According to Russian Minister of Economic Development Reshetnikov reported to Russian President Putin, Russia will start a fixed grain export control mechanism from April 1.
Leshetnikov said:”We are now formulating a fixed mechanism, which will be implemented on April 1. The mechanism is designed to prevent fluctuations in the international market and high prices from being transmitted to our domestic market.”
He added:”The regulatory mechanism will consist of two parts. The first part is export tariffs, and the second part is the use of agricultural-industrial complex funds to return all the money to the hands of agricultural producers.”
The Russian government announced a series of measures at the end of December last year due to the increase in domestic food prices. From February 15 to June 30, 2021, Russia will impose export tariffs on cereals and set an export quota of 17.5 million tons for wheat, rye, barley and corn.
Among them, the in-quota export tariff for wheat is 25 euros per ton from February 15 to 28, and 50 euros per ton from March 1 to June 30. No export duties will be imposed on corn and barley before March 15. Afterwards, export duties will be imposed at 25 Euros and 10 Euros per ton respectively. The export tax rate for the additional export of all kinds of cereals is 50%of the duty-paid price, but not less than 100 euros per ton.