Between October 27-November 2, the duty on wheat exports from Russia will rise to $67 from $61.3 per ton, Report quotes TASS report with reference to Agriculture the Ministry.
The export duty on barley will decrease to $42.6 from $45.9 per ton, the duty on corn will increase from $48.4 to $49.7 per ton.
The export duty rate for wheat and meslin (a mixture of wheat and rye) is calculated based on an indicative price of $295.8 per ton, for barley at a price of $245.9 per ton, for corn at $256 per ton... The rates are applied from the third business day after the day of their placement and are valid until the start of the application of the next rates of fees.
Note that on April 1, 2021, the Agriculture Ministry began testing the mechanism for calculating the "floating" duty on grain exports, which entered into force on June 2, 2021. From February 5, market participants transmit data on contracts to the Moscow Exchange to form the calculation of the indicative price. Based on this information, the Agriculture Ministry determines the amount of the duty for a period of one week. The calculated fees are published weekly on the ministry's website.