A floating tax on the export of Russian wheat from June 1?

Russia had announced that it wanted to extend its grain export taxes for the next season. In wheat, it could even set up a floating one from June 1.

In view of such a move, Russian exporters could further step up their wheat loadings. (© Pixabay)

LRussia would consider setting up its floating tax on wheat exports one month earlier than expected, i.e. the 1is June 2021, when it should only have concerned the next campaign. But “the concrete modalities are still unclear”, notes Marius Garrigue on Terre-net.fr.

“This tax could represent 70% of the wheat fob value beyond a threshold located at $ 200 / t, ie $ 35 in the case of an Fob price of $ 250 or $ 70 for an Fob price of $ 300 ”, thinks for his part Agritel. “The adoption of such a project would then encourage producers, who intended to store their wheat until the new season, to close their sales faster than expected ”, continues the firm specializing in agricultural markets.

Likewise, the Russian grain exporters, which are already accelerating their sales before the entry into force of the tax of 25 € / t of wheat on February 15, especially in recent days with 1.3 Mt loaded, could therefore further intensify them in the perspective of such a decision. “The potential ofwheat export of the country for the 2020/21 season could thus be revised upwards, ”forecasts Agritel, which suggests that a proposal of the same type is being studied for barley.

To monitor changes in the prices of agricultural commodities, log on to Agricultural markets on Terre-net.fr

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