Russia Expands Export Taxes on Wheat as Corn and Barley Rates Shift
As of October 11, the export tax on wheat shipments from Russia has increased. Interfax reports this change in coordination with the Ministry of Agriculture of the Russian Federation, highlighting a new level of the levy and its effective date. The rise marks a continued adjustment of duties designed to manage the country’s grain exports and domestic supply dynamics. [Citation: Interfax, Ministry of Agriculture, Russian Federation]
The latest adjustment represents a 14.4 percent increase from the previous week, lifting the rate to 4,564.6 rubles per ton of exported wheat compared with the prior period. The tax applies to shipments at a maximum rate up to 5,224 rubles per ton. The update reflects ongoing policy shifts that influence pricing for international buyers and domestic producers alike. [Citation: Interfax, Ministry of Agriculture]
In parallel, the export tax for corn rose to 2,853.83 rubles, with a ceiling of 3,120.8 rubles per ton. This change signals Russia’s deliberate approach to modulating grain exports through price mechanisms that balance revenue with market access. [Citation: Interfax, Ministry of Agriculture]
Conversely, the levy on barley decreased, moving from 1,251.1 rubles to 1,166.1 rubles per ton. This downward adjustment contrasts with the wheat and corn moves and may reflect shifts in domestic barley supplies or international demand patterns. [Citation: Interfax, Ministry of Agriculture]
The new tax levels are scheduled to remain in place until October 17, subject to any further government decisions or market developments. Stakeholders in the agricultural sector will be watching closely for any subsequent revisions or policy signals that could affect export timing and contract pricing. [Citation: Interfax, Ministry of Agriculture]
Earlier reports noted ongoing discussions involving Russia and international organizations about access to Russian fertilizers and grains in world markets. Deputy Foreign Minister Sergei Vershinin spoke with Rebekah Greenspan, the secretary-general of the United Nations Conference on Trade and Development, and UN Deputy Secretary-General Martin Griffiths regarding the Istanbul Agreements signed on July 22, 2022. The discussions focused on ensuring stable access to essential agricultural inputs and products for countries that depend on Russian grain and fertilizer supplies. [Citation: UNCTAD, Ministry of Foreign Affairs]
Additionally, it was stated that Russia would continue to provide humanitarian grain and fertilizer to the nations most in need in 2024, underscoring the country’s stated commitment to humanitarian assistance amid broader export policy changes. [Citation: Ministry of Foreign Affairs]
Earlier communications from the Ministry of Foreign Affairs confirmed the completion of negotiations related to processing one million tons of grain in Turkey, highlighting collaborative efforts to support grain logistics and distribution routes that enable reliable supply to international markets. [Citation: Ministry of Foreign Affairs]