Russia Increases Grain Export Tax by 32%

The Russian Ministry of Agriculture announced that as part of measures to reduce exports, it will increase the wheat export tax to approximately 32% per ton, raising it to 4,871.5 rubles starting from December 11. According to the consultancy Sovecon, as a result of these restrictions, Russia's export volumes have been declining over the past two weeks, while export prices remain unchanged. Last month, Russia reduced the wheat export quota for the second segment of the export season, which will be implemented from February 15 to June 30, 2025, by two-thirds from 29 million tons in the same period last year to 11 million metric tons. Russia allows grain exports without a quota from July to January, which is the first half of the export season, and then imposes quotas on about 260 domestic traders authorized by officials to sell grain in international markets.