MOSCOW, RUSSIA — Grain exports from Russia are anticipated lower to 30 million tonnes due to a new export duty that goes into effect on July 1, said Russian Grain Union President Arkadiy Zlochevskiy on June 9.
The previous estimate for the 2015-16 growing season was 35 million tonnes. Wheat exports are expected to drop to 17-18 million tonnes from a previously expected 22 million tonnes.
A decrease also is expected in the general grain harvest in Russia to 95-96 million tonnes, from 103 million tonnes harvested last year. The wheat harvest is expected to be down to 54-55 million tonnes.
Russia imposed an export duty on wheat of 15% of customs value plus €7.5, but not less than €35 per tonne from Feb.1 to May 15. It’s estimated that duty prevented the export of 3 million tonnes of Russian grain.
On May 26, Russian Minister of Agriculture Alexandr Tkachov announced a new duty that will be calculated based on a contract price. The price will be converted into Rubles at the rate of 50% of the contract price per tonne, less 5,500 Rubles, subject to a minimum tariff of 50 Rubles per tonne.