Russia Hikes Corn Export Duty for First Time Since April
Russia's Ministry of Agriculture has raised the export duty on corn for the first time in three and a half months, effective July 29. The new rate is set at RUB 232.6 per ton, marking an increase from the previous zero-duty period.
The export duties on wheat and barley remain unchanged, with rates still at zero since July 10 and April 15, respectively. The ministry based its calculations on indicative prices for each grain: $228.4 per ton for wheat (down slightly from $229.1 in the previous period), $191 per ton for barley (up from $186), and $232.2 per ton for corn (slightly lower than the previous $231.3).
The new duty rates will remain in effect until August 4, inclusive. The Russian Ministry of Agriculture did not provide further context or explanations for the change.