Russia zeroes the export duty on wheat, according to RF Minister of Agriculture Alexander Tkachev, PRIME reports.
“I would like to inform villagers and traders that today the export duty is zeroed (on wheat)”, - Tkachev said on Thursday to Russia 24. RIA News informed that according to the Ministry of Agriculture press-office, the duty will be zeroed since September 23.
“We zero export so nothing can interfere. Of course, our traders build long-term sales prospects. It seems to me that it will positively impact market”, the minister added.
The export duty on wheat had effect in Russia since February 1, 2015, for stabilization of situation on the internal grain market. Its formula changed several times. The last duty (was effective since October 1, 2015) made up 50% from the customs cost minus 6.5 ths rubles per ton, but not less than 10 rubles per ton.
On September 2, RF Prime Minister Dmitri Medvedev announced that RF government passed the decision to zero duty for two years.
In early September, Deputy Minister of Agriculture Evgeni Gromyko claimed that in early 2018 the Ministry of Agriculture will be able to consider again the reasonability of export duty on wheat.
