Trade and markets
 

Detail

Area
Russia
Commodity Group
Grains
Commodity
Wheat
Date
01/05/2015
Policy Category
Trade
Policy Instrument
Export tariff
Description
Canceled the customs duties on wheat exports, which has been in force since 1 February 2015.
Notes
Such action will withdraw nearly 1 mln tonne of wheat from the market at the expense of export supplies, and provide additional funds to Russian agricultural commodity producers, in order to assist to hold the spring crops planting campaign. It is expected that the decree will prevent oversupplying of the market, and stop falling prices for grains in the period of the harvesting campaign below the prime cost level.