PRESS: Russia’s Ag Ministry recommends not to extend wheat duty

MOSCOW, Apr 17 (PRIME) -- Russia’s Agriculture Ministry has recommended the government not to prolong a wheat export duty after its anticipated termination on July 1, Kommersant business daily reported Friday, citing Minister Nikolai Fyodorov’s letter to Prime Minister Dmitry Medvedev.

The government will make a final decision on the duty extension no earlier than in mid-June, when new harvest volumes become clear, the daily said.

Russia imposed a wheat export duty of 15% plus 7.5 euros, but no less than 35 euros per tonne, from February 1 until July 1 to stabilize the domestic grain market.

On April 2, Medvedev ordered the government to consider keeping the duty from July 1.

Grain exporters have asked Deputy Prime Minister Arkady Dvorkovich to abolish the duty before June 30 saying if it remains in force until July, exports of all types of grain could fall to around 5.28 million tonnes in March–July from 6.74 million tonnes in the same period of 2014, the grain exporters said.

The Federal Antimonopoly Service said recently the duty could be extended to protect the country’s national interests.

End