AreaRussia

Commodity GroupGrains

CommodityWheat

Date01/05/2015

Policy CategoryTrade

Policy InstrumentExport tariff

DescriptionCanceled the customs duties on wheat exports, which has been in force since 1 February 2015.

NotesSuch action will withdraw nearly 1 mln tonne of wheat from the market at the expense of export supplies, and provide additional funds to Russian agricultural commodity producers, in order to assist to hold the spring crops planting campaign. It is expected that the decree will prevent oversupplying of the market, and stop falling prices for grains in the period of the harvesting campaign below the prime cost level.