MOSCOW:The Russian government has zeroed out export duties on grain crops through the end of 2026, according to a decree published on the of...
MOSCOW:The Russian government has zeroed out export duties on grain crops through the end of 2026, according to a decree published on the official legal information portal.
Specifically, the "floating" export tariff on wheat, barley, and corn has been scrapped until December 31, 2026. Meanwhile, duties on sunflower oil and sunflower meal will be capped at the levels set for August 2026: 7,748 rubles ($92.13) per metric ton for sunflower oil and 312 rubles ($3.71) per metric ton for sunflower meal.
The Russian Agriculture Ministry noted that the decision aims to support domestic producers and exporters of grain and oilseed crops amid the ongoing restructuring of export logistics.
"These measures will reduce costs for market participants, make sales conditions more predictable, and bolster the industry's export potential," the ministry added.
Russia introduced export duty mechanisms for grain, sunflower oil, and sunflower meal in 2021. The rates are calculated based on the spread between the base price and the indicative price.
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