Union: Russia unlikely to take entire grain export quota 2020–2021

MOSCOW, Feb 16 (PRIME) -- Russia is unlikely to spend the entire grain export quota in the remaining 2020–2021 agricultural year, Director of the Information and Analysis Department of the Russian Grain Union Yelena Tyurina said on Tuesday.

"Taking into account our grain export forecast for this year, supplies to the global market from February 15 till July 1 amount to 15.4 million tonnes, including about 10 million tonnes of wheat, 2 million tonnes of barley and 2.5 million tonnes of corn,” Tyurina said.

“Thus, export potential will be smaller than the quota in the remaining period of the 2020–2021 season."

In December 2020, the government introduced duties on exports of wheat, rye, barley and corn, and a grain export quota of 17.5 million tonnes for February 15–June 30, 2021.

The duty for wheat exports is set at 25 euros per tonne for February 15–February 28, 50 euros per tonne for March 1–June 2. After the quota is topped, the duty for all grain exports will stand at 50% of the customs value, but no lower than 100 euros per tonne.

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