Russia Eliminates Export Duties on Wheat, Barley, and Corn
Russia has eliminated export duties on wheat, barley, and corn until the end of 2026. The move is expected to support Russian exporters and domestic grain prices, which have fallen significantly in recent weeks due to ample supply and difficulties moving new crop exports to markets.
The wheat export duty was previously set at RUB 787.5/t, while the corn duty stood at RUB 406.5/t. ProZerno estimates that part of the difference will translate into higher prices for farmers, but FOB export prices may decline by around $3-4/t.
However, market participants warn that eliminating duties alone will not be enough to restore exports. The main constraint remains limited shipping capacity in the Azov-Black Sea basin, which handled over 5 million tons of exports per month. Analysts estimate that shipments through ports in northwestern Russia and the Baltic states could only increase by several hundred thousand tons per month.