Russia increased wheat export duties by 40%
reported by %20%0A
According to this report, on October 10, Dmitry Patrolov, the Deputy Prime Minister of Russia announced that the grain harvest in the year 2024 will reach 130 million tons, which includes 83 million tons of wheat (one million tons less than the previous forecast).
He emphasized that this amount of harvesting fully meets domestic needs and has a high potential for exporting raw materials and processed products. So far, 133 million tons of grain have been harvested, which ensures Russia’s food security and readiness for export.
At the same time, there have been rumors about the possibility of increasing export taxes by imposing restrictions on the part of the Ministry of Agriculture. There are also concerns about the inappropriate conditions for planting winter crops and its effect on future forecasts.
At a meeting with the Ministry of Agriculture, the Union of Grain Exporters put forward proposals to strengthen the direct export of grains and legumes and demanded the distribution of quotas based on the forecast of a harvest of 130 million tons and export of 55 to 57 million tons. .
The Ministry of Agriculture supported these plans, especially the elimination of intermediaries and international companies and the direct sale of grain by Russian exporters to world markets.
It seems that the Russian market is affected by the unfavorable weather conditions and the negative impact on the harvesting process of the current season, as well as continuing concerns about the state of planting and the amount of harvesting of winter crops for the upcoming season. The change in export policies may face the possibility of increasing or even banning exports, especially from the beginning of next year.
