The Russian Federation nullified the export duty on wheat. This was stated by the Minister of agriculture of the Russian Federation Alexander Tkachev on Thursday, RIA Novosti reported.

“I want to inform the villagers, and not just traders that starting today, reset the export duty (on wheat – ed.)”, – said Tkachev. In a press-service of the Ministry of agriculture said that the fee is reset to zero from September 23.

“We are zeroing in on export export to do not hurt. Of course, our traders can build long term sales. I think it will have a positive impact (on the market),” he added.

The export duty for wheat existed in Russia from 1 February 2015 to stabilize the situation on the domestic grain market. Her formula was changed several times. The last duty (in force from 1 October of the previous year) accounted for 50% of the customs value minus 6,5 thousand rubles per ton, but not less than 10 rubles per ton.

The Russian Federation nullified the duty on wheat 23.09.2016

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