A zero rate for the export duty on grain has been set until 1 July 2018. This will help Russia to support its grain export capacity and ensure balance on the domestic food market.
Drafted by the Ministry of Agriculture.
Government Resolution №754 of 30 August 2013 established rates for export duties on commodities exported from the Russian Federation to countries outside the members of the Customs Union agreements.
Government Resolution №1032 of 29 September 2015 set the export duty rate on grain at 10 roubles per tonne.
This rate does not exert a regulating influence on the domestic market. The increase in the grain harvest reduced domestic prices on grain (by 17-27 percent depending on its grade). Keeping the customs duty at the previous level inhibits the signing of long-term contracts on grain supplies, which reduces purchases on the domestic market during the massive influx of grain from the new harvest and further lowers market prices.
The recently signed resolution has established a zero rate for the export duty on grain. This will help support Russia’s export capacity, boost grain exports, ensure balance on Russia’s domestic food market and raise revenues for Russian grain producers.