Taxes on the export of Russian wheat came into effect last week, in conjunction with an export quota, and will be followed in March by taxes on corn and barley exports.
In December 2020, Moscow announced restrictions on the export of grain in an effort to curb food inflation.
The first is an export quota to limit exports of wheat, barley, corn and rye to 17.5 million tonnes between February 15 and June 30 this year.
The second is an export tax on wheat of 25 Euro per tonne ($41.50/t), to come into effect for the same period.
Last month, the Russian government doubled the tax on wheat to 50 Euro/t ($83/t), effective from March 1.
At the same time, it announced it would set an export tax on corn and barley at 25 Euro/t ($41.50/t) and 10…