Russia proposes export duty moratorium on grain
Russia's Ministry of Agriculture is considering a temporary moratorium on floating export duties on wheat, barley, and corn until the end of 2026 due to export difficulties via the Azov-Black Sea ports, which handle over 70% of the country's grain exports.
Consensus
- The Ministry of Agriculture of Russia is considering a moratorium on floating export duties on wheat, barley and corn until the end of 2025.
- The moratorium is being considered due to difficulties in exporting agricultural products through the Azov-Black Sea port hubs.
- These ports handle over 70% of Russia's grain exports.
- The floating export duty mechanism has been in place since June 2021.
- The Ministry is also considering other support measures for farmers, including grain purchases into the intervention fund and extension of subsidized loans.
Points of divergence
- The price of Russian wheat in Novorossiysk fell by $6 to $215 per ton, and producer prices in southern Russia dropped by 2,200 rubles to 8,900–10,000 rubles per ton (excl. VAT). — interfax
- The cost of producing wheat for the 2026 harvest in Krasnodar Krai is 12,000–13,500 rubles per ton, which is higher than the current market price. — interfax
- The export duty on wheat as of August 26 is 1,012.1 rubles per ton, on corn 607.3 rubles per ton, and on barley zero. — interfax
- The Ministry is considering purchasing between 1 million and 3 million tons of grain into the intervention fund. — interfax
- The Ministry is considering introducing a subsidy per ton of grain sold. — interfax
- The Ministry is considering allocating around 10 billion rubles to subsidize rail transport of export agricultural products. — vesti
- Ilya Bereznyuk, CEO of Agro and Food Communications, believes the temporary suspension of export duties could reduce market imbalance and fiscal pressure on producers. — vesti
Coverage (2 sources)
- Ministry of Agriculture proposes a moratorium on export duties on grain until the end of the year — Интерфакс
- In Russia, the possibility of canceling export tariffs on grain until the end of the year is being considered — Вести