Area
Russian Federation
Commodity Group
Grains
Commodity
Barley, Maize and Wheat
Date
04/02/2021
Policy Category
Trade
Policy Instrument
Export policy
Description
Introduced a floating tax system for wheat, maize and barley exports, effective from 2 June 2021 (Decree 117). Under the new formula, the export tax will set at 70 percent of the difference between a calculated base price and USD 200 per tonne (for wheat) or USD 185 per tonne (for maize and barley). From 1 April, Russian grain exporters will be requested to declare the price of their contracts to the Moscow Exchange, which would then calculate the base price for the formula. The tax will be recalculated and published every week on the last working day of the week, and will be implemented from the third working day after publication.
