Russian government abolished wheat export duty

15/05/2015,

On May 15, the Government of Russia cancelled customs duties on wheat exports, which were in place since 1 February 2015 and were due to last until the end of June. The measure aims to increase incomes of producers to cover costs of the spring crops planting campaign. It is expected that the decree will support grain prices during the period of the winter crops harvesting. A new formula for calculating the wheat exporting duty might come into effect at the beginning of the new agricultural year, on 1 July.

Country: Russian Federation