Russia: Agriculture ministry reveals sharp rise in barley export duties
The Russian agriculture ministry has revealed details of its new floating tax for agriculture exports that will cover the upcoming week of June 2-8, according to an official note published on May 28, confirming that wheat duties are set to fall but corn and barley duties will rise sharply, AgriCensus reported.
The wheat tax was put at $28.10/t and is due to come into force from June 2, with the figure marking a substantial $32.59/t decline compared to the current taxation arrangement.
The duty is calculated from a formula, whereby exporters will have to stump up 70% of the difference between a floor price and a floating index price calculated by a panel of industry experts and published by the Moscow Exchange (MOEX).
For wheat, the 7-day average index according to MOEX values is $240.20/t.
The tax for barley has increased from $12.14/t to $39.60/t, based on an average index price over the last seven days of $241.70/t.
Corn export duties jumped to $52.20/t from the current $30.35/t, according to an index set at $259.70/t.
Taxes are to be updated at the end of each week and will come into force on the third working day after each publication.
Regresar
E-malt.com, la fuente de información global para los profesionales de la industria cervecera y de malteado. Los boletines quincenales de E-malt.com incluyen las últimas noticias de la industria, estadísticas en gráficos y tablas, precios mundiales de cebada y malta, y otra información relevante. Haga clic aquí para obtener acceso completo a E-malt.com. Si usted es un cliente de Castle Malting, puede obtener acceso gratuito al sitio web y publicaciones de E-malt.com. Contáctenos para obtener más información en marketing@castlemalting.com.
