The export responsibility on Russian wheat shall be elevated from $ 61.three to $ 67 per ton on October 27, the Ministry of Agriculture stated. Duties on corn may also be hiked to $ 49.7 per ton.
On the similar time, export duties for barley shall be lowered from $ 45.9 to $ 42.6 per ton.
The export responsibility price is calculated at an indicative value of $ 295.Eight per ton for wheat, $ 245.9 for barley, and $ 256 for corn. The brand new responsibility charges shall be in impact till November 2.
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This summer season, Russia launched a grain damper mechanism, which offers for floating duties on the export of wheat, corn and barley. The responsibility is 70% of the distinction between the indicative value and the bottom value. Market contributors transmit information on contracts to the Moscow Alternate to type the calculation of the indicative value. The bottom value for wheat is $ 200 per ton; for corn and barley, $ 185 per ton. Primarily based on that info, the Ministry of Agriculture determines the quantity of responsibility for a interval of 1 week.
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