Process Management

News last update:6 Aug 2012

Russia raises grain export duties to 40%

Russia will introduce a 40% export duty on wheat, meslin (wheat and rye mixed), and barley. This duty will take effect from January 29, 2008 and will apply until April 30, 2008.

The government's decision to introduce grain export duties and carry out so-called "grain interventions" (selling grain from the state intervention fund) was prompted by increased prices for bread products. Any country cares about its food security, keeping the balance between production and consumption,” he stressed. Grain prices are high both in Russian and foreign markets, which “leads to an unjustifiable increase in exports,” Agriculture Minister Alexei Gordeyev said.

In the Agriculture Ministry's estimation, Russia will export between 12.5 million and 13 million tonnes of grain by February 1, 2008, having harvested 81 million tonnes of grain in 2007, the best result over the past five years.

The decision to lift the limitations could be based on harvest forecasts that could be announced in April, according to Gordeyev.

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