Wheat export duty is now in question

The Russian government has not decided on the wheat export duty yet. Such information spread from the office of the Vice-Prime-Minister A. Dvorkovich. This statement was made after a multilateral meeting of Dvorkovich, the Ministry of Agriculture, as well as representatives of the export market and experts of the agrarian sector. During the meeting, wheat export duty was discussed. However, the final decision was not made, so it was postponed until February 2016r.
 
The Ministry of Agriculture has said many times that it is planned to change the duty or to cancel it for good. Since the duty on wheat was introduced, enough time has passed to analyze the data and the effect of the duty on market participants.
 
S. Levin, who is deputy head of the Ministry of Agriculture, expressed his opinion regarding the duty. He believes that when calculating the duty, different indicators should be used. One of these indicators is MATIF quotes (Paris Stock Exchange). This indicator should be taken into account, so that duty calculations at different customs offices, depending on the country, coincide.
Another loud statement, which was made in the Ministry of Agriculture earlier this year, concerns the possibility of introduction duties on other grains – barley and corn.
 
It is worth mentioning that the wheat duty was introduced more than half a year ago – on July 2015. This innovation was connected with the fact that export rate increased and the sales were made in foreign markets in dollars or euros. The duty is in rubles. The duty is 50%, from which 5.5 thousand rubles per ton was taken away. The minimum amount is 50 rubles per ton. But in October the amount of the duty was recalculated – the deduction rose by 1 thousand rubles, and the minimum figure fell to 10 rubles per ton of grain.
 
The agrarians did not like the innovation. The government was asked to cancel the duty. But both the representatives of the grain industry and the government have not made a decision on the duty yet.