February 1, 2012

Russia mulls over grain export duty

The Russian government is thinking of putting protective customs duties on grain exports to slow down the high export rates from the country, said Ilya Shestakov, Deputy Minister of Agriculture of the Russian Federation.

According to him, the Ministry continuously monitors the volume of grain exports. There are many prerequisites for imposition of the duties.

He said that the information about possible imposition of the tax since April 2012 is "baseless".

I. Shestakov noted that the Government will base its decision on the volume of February grain exports. By mid-February, he said, the Government will be able to forecast the supply for the entire month, and announce its decision.