Russia's Agricultural Ministry May Reconsider Wheat Export Curbs After February

By The Moscow Times

Feb. 18, 2015

Russia's Agriculture Ministry may review its wheat export tax once it gets export data for February, its minister, Nikolai Fyodorov, said on Wednesday.

The Russian government has been trying to cool domestic wheat prices, which have been boosted by a slide in the ruble, with informal curbs on exports since December, to which it added an export tax from Feb. 1.

"As of today it is too early to make any conclusions and possible recommendations for a change in policy over the export duty," he said.

"That's why we can return to this issue … when we analyze February's grain exports," Fyodorov said.

The tax on wheat exports is set at 15 percent of the customs price plus 7.5 euros but is no less than 35 euros ($40) a ton.

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