The levy on Russian wheat exports will drop from $86.4 a tonne to $87 between March 30 and April 5, the Russian Agriculture Ministry announced on Friday.
According to the release, the export tax on barley and maize will amount to $75.6 and $58.3 per ton, respectively.
The data shows that the export duty rate for wheat and meslin (a mixture of wheat and rye) was calculated at an indicative price of $324.3 per tonne, for barley at a price of $293. .1 dollars and for corn at 268.3 dollars per ton.
Last summer, the department launched the so-called floating tax on wheat, corn and barley. The measure, which was aimed at stabilizing domestic food prices, requires sellers to register their export contracts on the Moscow Stock Exchange. Based on this information, the Ministry of Agriculture determines the amount of duty for a period of one week.
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