Russia Set to Boost Grain Export Duties
Russia is expected to levy increased duties on grain exports from Feb. 1, after the Ministry for Economic Development introduced a regulatory change in recent days (here). The measure would hike grain export duties to “15 percent plus 7.5 euros…
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but no less than” roughly $42.5 per ton, said a Dec. 25 government notice. “The new grain export duty is aimed at stabilizing the domestic grain market,” it said. The measure will still have to be formally endorsed by the government before it will take effect. Only exports outside the Eurasian Customs Union, which includes Russia, Kazakhstan and Belarus, will be affected. The Russian grain export lobby is pushing a delay in implementation of the change, The Moscow Times reported (here).