MOSCOW – January 09, 2021
As we know, Russia’s government is restricting some grain and oilseed exports in an effort to limit domestic price inflation and bolster supplies.
Export duties on sunflower and rapeseed seeds will begin tomorrow morning and tariff quotas on 17.5 million tons of cereals, including barley, maize, rye and wheat, will come into effect on 15 February.
As we said, wheat will be subject to a 25 Euro per ton tariff within that quota, that’s about $30 per ton, rising to 50% but not less than 100 Euros per ton outside of the quota, while barley, corn, and rye will have no tariff within that quota.
The tariffs and restrictions are scheduled to last through the end of June and could drive some export business to the U.S.
