Russia Adjusts Export Taxes on Wheat, Barley and Maize for a New Week
From late August into early September, Russia will adjust its export duties on key grain crops. The weekly rates for wheat exports will drop to 3,729 thousand rubles per tonne, reflecting a policy shift designed to moderate international prices while safeguarding domestic supply. This adjustment is part of the ongoing variable tax mechanism that governs grain outflows from the country. (citation)
Similarly, the export tax for barley is scheduled to fall to 431.8 rubles per tonne, down from the previous level of 860.3 rubles. The tax for maize will also decrease, landing at 1,932 thousand rubles per tonne, from 2,495 thousand rubles per tonne. These changes come as part of the same weekly review that sets the outward levy on staples such as bread and flour, with the objective of stabilizing prices for households and industrial users alike. (citation)
Earlier in the year, the Ministry of Agriculture in Russia indicated that variable export duties on grain would be lowered during a specific window, from June 15 to June 20. The wheat and meslin (a blend of wheat and rye) rate moved from 2,856.3 rubles to 2,629.6 rubles per tonne, a reduction of 226.7 rubles. For certain destinations, including Egypt, the rate declined from 1,214.4 rubles to 1,189.6 rubles per tonne, a decrease of 24.8 rubles. The barley tax remained at zero during that period. (citation)
The variable tax system for exports of wheat, maize and barley outside the EAEU was introduced in Russia on June 2, 2021. It replaced the older fixed-rate approach to grain exports. The aim has always been to prevent sharp price increases for socially essential goods such as bread, flour and cooking oils. Since July of the previous year, the tax calculations have been denominated in rubles, aligning with current monetary practice. (citation)
Under the framework, the Ministry of Agriculture determines weekly tax levels. The calculation relies on an indicative price derived from contract data reported on the Moscow Exchange. This method ties export duties to real market conditions, helping to balance domestic affordability with international market dynamics. (citation)
In related labor policy news, there were statements from the Ministry of Labor indicating that an increase in the minimum wage would impact a considerable portion of the workforce. The details are part of broader social and economic policy discussions affecting millions of Russians. (citation)