Russia mulls formula-based wheat export tax

Russia is considering bumping up the timeline to implement a formula-based tax on wheat exports, Reuters reported citing government sources.
The country originally planned to begin the new tax in July but is now deliberating applying it June 1.
Russia is working to limit increasing domestic food prices with the proposed wheat export tax.
The formula may be set at 70% of the difference between the price of wheat per tonne and $200, Reuters reported, adding officials are still discussing what to set as the price for the formula.
Read also
FAO’s 2025 wheat production forecast remains positive
EU is ready to buy more US soybeans to reduce tensions
FAO records rise in prices of cereals, dairy products and meat in April
China says it is considering the US proposal for tariff negotiations and strives f...
This season, farmers have a significant impact on the market
Write to us
Our manager will contact you soon