Russia will raise export duties Grain crop do not refuse, Russian Agriculture Minister Dmitry Patrushev said during an extended session of the State Duma Committee on Agricultural Issues.
We will not cancel any duties. The fee is a mechanism that allows you to solve the inner price from the outside.
Dmitry Patrushev
Minister of Agriculture of the Russian Federation
The minister recalled the dynamic calculation of tolls linked to world grain prices. “Let's assume that for corn, taking into account the external price of the world, the levy is now zero. And if at the beginning of the year the wheat fee was 7,5 thousand rubles per ton, now it is just over 2 thousand rubles,” he said.
Flexible export duties apply in Russia Wheat, Corn and Barley, which act as part of the grain dampening mechanism. For the calculation, data on the price of export contracts registered on the exchange and the average dollar / ruble rate set by the Bank of Russia five business days before the settlement date are used. The funds received will be distributed in the form of subsidies to producers of wheat, Rye, corn and feed barley returned to the subjects of the Russian Federation and distributed according to the volume of production.
Source: Premium (Russian)