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Russia Sets a Record In Wheat Export
May 24, 2016 11:30


Russia has become a world leader in the supply of wheat to the world market, surpassing Canada and the United States in this indicator. This was stated by the Minister of Agriculture Aleksandr Tkachev, as TASS reports.

According to Rambler News Service with a reference to the press service of the Ministry of Agriculture, the export wheat will rise to a record level of 24-25 million tons in the current agricultural year (from July 1, 2015 to June 30, 2016). The ministry representatives note that this has been possible thanks to the growth of crops by 4 percent that made up 62 million tons last year.

In February Tkachev said that Russia could increase grain export up to 50 million tons per year in the next 10 years. According to the forecast made by the Ministry of Agriculture of the USA on February 8, grain export from Russia will amount to 23.5 million tons in the current agricultural year, which is 3 percent more than in the previous year. This fact should make Russia the largest grain exporter in the world.

Export duty on wheat has become effective in Russia since July 1, 2015, the duty is calculated by the following formula: 50 percent of the customs value minus 5.5 thousand roubles, but not less than 50 roubles per ton. The decision was explained by drought. In October, it was revised in favor of the formula: 50 percent of the customs value minus 6.5 thousand roubles per ton, but not less than 10 roubles per ton.


Author: Anna Dorozhkina


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