Details Emerge on Proposed Taxes on Russian Exports of Wheat, Corn and Barley

Posted on Wed, 01/13/2021 - 16:01

Russia’s ag ministry today said the country may impose a higher duty on wheat exports from mid-March forward, with duties also possible on exports of barley and corn, lending credence to reports of such moves earlier in the week. The ministry proposed a wheat export duty of 25 euros ($30) per metric ton for Feb. 15 through March 15, and an increase in that duty to 45 euros ($55) per metric ton from March 15 through June 30.

The ministry also proposed tariffs of 10 euros per metric ton for barley and 25 euros per metric ton for corn for March 15 through June 30, in line with earlier reports from Reuters. Officials will review the proposals on Friday.

The largest importers of Russian wheat are Turkey, Egypt and Bangladesh. The biggest buyers of Russian corn and barley are primarily located in the Middle East.