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Russia's agriculture ministry lowered export tariffs on wheat, barley and corn in the coming week

 Last Update: 2022-10-19
 Source: Internet
 Author: User

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Foreign media news on October 10: The latest grain export tariffs released by the Russian Ministry of Agriculture show that export tariffs on wheat, barley and corn denominated in rubles have been reduced
.

Between October 5 and October 11, 2022, the benchmark price for Russian wheat and blended wheat was $307.
7 per tonne, and the export duty was 1,926.
8 rubles (about $30.
25)
per tonne.
For comparison, the benchmark price for the period from October 5 to October 11 was $308.
1 and the export duty was 2,119 rubles per tonne (about $36.
48).

The benchmark price of barley was set at $280.
9 per tonne with export duties of 632.
0 rubles/mt; The previous week benchmark price was $281.
8 and export duties were 1,850 rubles/mt
.

The corn benchmark price is $317.
6 per tonne and the export duty is 3,114.
1 rubles/mt per tonne; The previous week the benchmark price was $317.
6, and the export duty was 3,296 rubles per tonne
.

On June 30, 2022, Russia announced that it would change tariffs from US dollars to rubles from July 6
, 2022.
The formula is to subtract 15,000 rubles from the base price of wheat and multiply it by 70%.

The benchmark price of wheat in the formula is the benchmark price calculated by the Moscow Exchange based on the FOB contract price
reported by the exporter.

The export base price for barley and maize was also changed from $185/mt to 13,875 roubles, calculated by subtracting 13,875 rubles from the base price and multiplying by 70 per cent
.

The Russian Ministry of Agriculture has implemented formula tax
calculation since June 2, 2021.

The ruble was exchanged at 63.
68 to 1 dollar on Monday, compared to 58.
03 to 1 dollar
a week ago.

Note: 1 US dollar is equal to 63.
68 rubles

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