Export duty on wheat from the Russian Federation from February 1, 2023 will increase to 4 thousand 365.3 rubles from 4 thousand 283.2 rubles per ton, the Ministry of Agriculture reports.

The increase will amount to 1.9%.

Duty on barley will increase to 3 thousand 174.3 rubles from 3 thousand 083.7 rubles, on corn – to 1 thousand 186.2 rubles from 886.5 rubles per ton.

The duties were calculated based on indicative prices: $308.8 per ton for wheat ($309.5 a week earlier), $267.7 – for barley ($267.9), $226.4 – for corn ($221.9).

The new duties will be in effect through and including February 7.

From July 2022 the duties will be determined in rubles. The base price for calculating the export duty on wheat is set at Br15 thousand per ton, while barley and corn – Br13.875 thousand per ton. The duty is 70% of the difference between the base and indicative price.

June 2, 2021, the Russian Federation introduced a mechanism of grain damper, which provides for floating duties on exports of wheat, corn and barley and the return of funds received from them to subsidize agricultural producers. The amount of duties is calculated weekly on the basis of price indicators based on the prices of export contracts, which are registered on the Moscow Exchange.