UPDATE: Ministry wants to prolong zero export duty on wheat for 1 yr

(Provides new data in headline, lede)

MOSCOW, May 8 (PRIME) -- The Russian Agriculture Ministry has suggested prolonging a zero export duty on wheat for one year beyond July 1, the authority said in a statement on Wednesday.

Earlier on Wednesday, the suggestion that mentioned no timeline was seen by PRIME in documents on the website for legal acts.

“The forecast for the gross production (of grain in 2019) is at 118 million tonnes. This is a good harvest which will allow us to satisfy domestic consumption fully and create good conditions for exports. Development of the order targets support of a stable situation on the domestic grain market,” the document read.

Russia introduced a wheat export duty in February 2015 and abolished it in September 2016. A zero rate was set until July 1, 2019.

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