Russia wheat export duty takes effect Feb. 1, 2015
Russian wheat export duty takes effect on Sunday, February 1, and will be valid until June 30, 2015. Grain export duty makes 15% of customs cost of a grain batch plus 7.5 euro, but no less than 35 euro per a ton.
The government has declared this measure in December 2014 to make Russian wheat sales to foreign markets less attractive and to stabilise flour and bread domestic prices.
When grain export duty comes into effect more administrative barriers to make the export slower will be needed no longer, therefore, the government plans to lift them.
Due to the informal curbs, supplies for Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), have already missed deadlines of previously agreed contracts, but traders can not change the origin of supply. "There have been negotiations to try to change the origin even to Ukraine but GASC insisted that it remains Russian," one of sources said.
So if vessels were not able to get their final loading documents by February 1, trading companies will have to pay the tax