Russia Cancels Export Duty on Wheat Until July 2018

Russian Prime Minister Dmitry Medvedev has signed a directive to waive the duty on wheat exports from September 23, 2016, until July 1, 2018, according to a Tuesday post on the government's legal information website.

MOSCOW (Sputnik) — Russia introduced an export duty on wheat in February 2015 to stabilize the situation on the internal grain market.

The latest duty, which has been in effect from October 1, 2015, amounted 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.