Russia: Wheat Export Duty Amended
The Russian Government amended the formula for calculation of the floating wheat export duty that was in force since July 1, 2015. The government increased the deductible portion of the wheat export duty from 5,500 rubles ($83.9) to 6,500 rubles ($99.1) per 1 metric ton (MT) and decreased the minimal amount of the duty from 50 rubles ($0.8) to 10 rubles ($0.15) per 1 MT. The new duty will apply to wheat exports starting on or after October 1, 2015.