Russia to raise wheat export duty to 50 euros/tn on March 1

MOSCOW, Jan 15 (PRIME) -- A sub-commission for tariff regulation of a Russian government commission for economic development and integration approved raising the wheat export duty to 50 euros per tonne from March 1 on Friday.

Russia will also introduce export duties for corn, of 25 euros per tonne, and barley 10 euros per tonne from March 15.

"The decision is made. I am kindly asking my colleagues from the Economic Development Ministry, (Deputy Agriculture Minister Oksana Nikolayevna (Lut) to approve the draft order promptly and to submit it to the government with a draft protocol," Economic Development Minister Maxim Reshetnikov said.

He said that the government is considering a mechanism of permanent grain export duties, which will remain in force after June 30.

In December, the Russian government set a 17.5 million tonne tariff quota on grain exports and a 25 euro per tonne export duty on wheat from February 15 until June 30.

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