icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
25 Mar, 2022 15:02

Russia raises grain export tax

Duty on wheat deliveries will amount to $87 per ton, agriculture ministry says
Russia raises grain export tax

The levy on Russian wheat exports will be increased from $86.4 per ton to $87 in the period from March 30 to April 5, the country’s Ministry of Agriculture said on Friday.

According to the statement, export tax on barley and corn will amount to $75.6 and $58.3 per ton, respectively.

Data shows the export duty rate for wheat and meslin (a mixture of wheat and rye) was calculated at an indicative price of $324.3 per ton, for barley at a price of $293.1, and for corn at $268.3 per ton.

Last summer, the ministry launched the so-called floating tax on wheat, corn, and barley. The measure, which aimed at stabilizing domestic food prices, obliges sellers to register their export contracts on the Moscow Exchange. Based on that information, the Ministry of Agriculture determines the amount of the duty for a period of one week.

For more stories on economy & finance visit RT's business section