The export duty on wheat from the Russian Federation from June 16 will increase to $131.6 from $129.2 per ton, according to the Ministry of Agriculture.
The duty on barley, which has been at the same level for three weeks ($76.5 per ton), will immediately rise to $92.8 per ton, and on corn it will rise to $84 from $78.7 per ton.
These fees will be valid until June 21 (taking into account the additional day off).
The amount of fees is calculated on the basis of indicative prices. For wheat, the price was $386 per ton ($383.4 for the calculation of the previous duty), for barley – $317.6 ($294.3), for corn – $305.5 ($297.5) per ton.
The amount of duty on wheat is calculated on the basis of a progressive scale, providing for an indicative price above $375 per ton. The progressive scale for calculating the fee was approved by Government Decree N2595 of December 31, 2021 and refers to the so-called second stage of the formula. It provides that the fee will be 80% of the difference between the indicative and the base price. In this case, its size consists of two parts: from the duty rate calculated at a price of up to $ 375 per ton, and above this indicator.
Since June 2, 2021, the Russian Federation has introduced a grain damper mechanism, which provides for floating duties on the export of wheat, corn and barley and the return of funds received from them to subsidize agricultural producers. The amount of duties is calculated weekly on the basis of price indicators based on the prices of export contracts that are registered on the Moscow Exchange.
The export duty rate on wheat from the Russian Federation will increase to $119 from April 27, 2022.2 per ton from $110.7. This is evidenced by the materials of the Ministry of Agriculture.
The duty on corn will decrease to $54.9 per ton from $66.1 per ton, on barley – to $73.3 from $76 per ton. The indicative price for wheat was $370.2 per ton, for corn – $263.5, for barley – $289.8 per ton.
Since June 2021, Russia has introduced a grain damper mechanism, according to which floating duties are introduced on the export of wheat, corn and barley and the return of funds received from them to subsidize agricultural producers.