Russia's 5 percent grain import duty will be abolished this quarter, Deputy Prime Minister Arkady Dvorkovich said, Interfax reported Monday.
At a meeting held by Dvorkovich on Feb. 1, Economic Development Ministry officials suggested that the import duty on wheat, rye, barley and corn be eliminated until Aug. 1. After the meeting, Dvorkovich ordered that decrees to that effect be prepared in the near future.
The Agriculture and Economic Development ministries say the abolition of the duty would not have a significant impact on the market. But the decision "will put the brakes on price growth," Deputy Economic Development Minister Andrei Klepach said.