From January 11, 2023, the duty on the export of wheat from Russia will amount to 4,766.3 rubles per ton, on the export of barley - 3,870.6 rubles, corn - 1,289.4 rubles.
To date, the export duty for wheat from Russia is 4,160.9 rubles per ton, for the export of barley - 3,420.4 rubles, corn - 692.6 rubles per ton, RIA Novosti reports.
Funds received from duties are returned to the constituent entities of the Russian Federation in the form of subsidies to producers of wheat, rye, corn and fodder barley. They are distributed depending on the volume of products produced.
Russia has a flexible export duty on wheat, corn and barley, which operates under the grain damper mechanism. The calculation uses data on the price of export contracts listed on the stock exchange and the arithmetic average of the dollar against the ruble, set by the Bank of Russia five working days before the date of calculation.