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The export obligation on Russian wheat shall be elevated from $57.80 to $58.70 per ton on October 13, the Ministry of Agriculture mentioned. Duties on barley and corn shall be additionally hiked to $49.40 and $47.20 per ton, respectively.
The export obligation charge is calculated at an indicative value of $283.90 per ton for wheat, $255.60 for barley, and $252.50 for corn. The brand new obligation charges shall be in impact till October 19.
This summer time, Russia launched a grain damper mechanism, which supplies for floating duties on the export of wheat, corn and barley. The obligation is 70% of the distinction between the indicative value and the bottom value. The bottom value for wheat is $200 per ton; for corn and barley, $185 per ton.
The funds acquired from the duties shall be distributed as subsidies for Russian producers, relying on quantity generated.
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