Russia changes grain export duty calculation method

The Russian government has changed the rules for calculating grain export duties. From now on, the duty must be calculated in Russian rubles. So, the base price for calculating the wheat export duty has been changed from $200/t to ₽15,000/t. The base prices for barley and corn now amount to ₽13,875/t (against the previous $185/t).

Note that the latest duties set in the US dollars were $146.1/t for wheat, $117.5/t for barley and $88.7/t for corn.

Grain export duties valid in the period from July 6 to July 13 have been calculated in accordance to a new method. So, they are established at ₽4,600/t for wheat, ₽3,307/t for barley, and ₽2,168.8/t for corn. The updated indicative prices are set at $404/t for wheat, $352.5/t for barley, and $322/t for corn.