Russia Prepares to Suspend Grain Export Duties
· Bloomberg HT
Russia's Ministry of Agriculture plans to suspend export duties on wheat, barley, and corn until the end of 2026 to overcome logistical bottlenecks at ports.
Russia's Ministry of Agriculture has put forward the suspension of the variable export duty on wheat, barley, and corn until the end of 2026. According to a report by Bloomberg, citing Russian media, the government is preparing to implement temporary measures regarding grain export duties.
This step is being planned due to difficulties in port shipments in the Azov-Black Sea basin, which accounts for over 70% of Russia's grain exports. Officials are also considering support for rail transport amounting to 10 billion rubles, state intervention purchases, and extensions of subsidized loan terms.