Export duties on wheat to rise 14.6% to 2,989 rubles/tonne from July 12 - Russian Agriculture Ministry
The export duty on wheat as of July 12 will be 2,989.6 rubles per tonne compared to 2,609.6 rubles the previous week, Russia's Agriculture Ministry said, Azernews reports, citing Interfax.
This is an increase of 14.6%.
There will be zero duty on barley for the sixth week in a row, while the duty on corn will rise to 1,237.4 rubles per tonne from 932.7 rubles.
The rates were calculated based on indicative prices: $239.2 per tonne for wheat against $245 a week earlier; $174 for barley vs. $178.1 the previous week, and $198.4 for corn vs. $201.7.
The new duties will be in effect through July 18, inclusive.
As reported, since June of this year, the base price for calculating the export duty for wheat increased to 17,000 rubles per tonne from 15,000 rubles, while for barley and corn, it rose to 15,875 rubles per tonne from 13,875 thousand rubles.
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