Russia to Cancel Export Duty on Wheat by July 2018

The export duty on grain wheat will be abolished in Russia by July 2018, according to Deputy Agriculture Minister Jambulat Khaturov.

MOSCOW (Sputnik) — Export duty on wheat will be canceled in Russia by July 2018, Deputy Agriculture Minister Jambulat Khaturov said Tuesday.

"The export duty on grain [wheat] will be abolished in Russia by July 2018," Khaturov told reporters in Moscow.

Russia introduced an export duty on wheat in February 2015 to stabilize the situation on the internal grain market.

The current duty, which is in effect from October 1, 2015, amounts to 50 percent of the customs value minus 6,500 rubles (about $100 at the current exchange rate) per metric ton, but not less than 10 rubles per metric ton.