The Russian Ministry of Agriculture has announced a reduction in the wheat export duty from 2,742.6 rubles per ton to 2,177.7 rubles per ton for the period of March 5 to March 11, 2025. This decrease is based on an indicative price of $241.3 per ton.
This reduction is part of Russia’s flexible export duty mechanism, known as the “grain damper,” which adjusts duties based on export contract prices and the average ruble-to-dollar exchange rate over a specified period. The funds collected from these duties are allocated as subsidies to domestic producers of wheat, rye, corn, and feed barley.
The reduction in Russia’s wheat export duty reflects the country’s adaptive approach to global market conditions and domestic agricultural priorities. While this move aims to balance export competitiveness with internal supply stability, its actual impact will depend on various factors, including global wheat demand, currency fluctuations, and domestic production levels. Stakeholders should monitor these developments closely to navigate the evolving landscape effectively.
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