MOSCOW, Sept. 21 (Xinhua) -- Russia has zeroed out export duties on grain crops through the end of 2026, the Russian Agriculture Ministry announced Monday.
According to a new decree, the "floating" export tariff on wheat, barley, and corn has been scrapped until Dec. 31, 2026. Meanwhile, duties on sunflower oil and sunflower meal will be capped at the levels set for August 2026: 7,748 rubles (about 92.13 U.S. dollars) per metric tonne for sunflower oil and 312 rubles (about 3.71 dollars) per metric tonne for sunflower meal.
The decision aims to support domestic producers and exporters of grain and oilseed crops amid the ongoing restructuring of export logistics, the Agriculture Ministry said in a statement.
"These measures will reduce costs for market participants, make sales conditions more predictable, and support the industry's export potential," the ministry said.
"We expect the temporary adjustment of export duties to lower market players' costs, sustain production economics and ensure stable supplies of Russian agricultural goods," Maxim Borovoy, deputy minister of the Agriculture Ministry said earlier.
Russia introduced export duty mechanisms for grain, sunflower oil, and sunflower meal in 2021. The rates are calculated based on the difference between the base price and the indicative price.
