The Government of the Russian Federation has approved an additional part of the quota for the export of grain crops from the Russian Federation outside the Eurasian Economic Union. This is reported on the website of the Cabinet of Ministers.
The quota will be valid until June 30, 2024. An additional part of the quota for the export of wheat, meslin, barley, rye and corn will amount to 5 million tons. The Ministry of Agriculture will distribute its volume among the participants of foreign trade activities.
The new grain export quota mechanism, including the possibility of distributing an additional part of the quota among exporters, was approved by the Cabinet of Ministers in 2023.
Within the quota, grain exports are subject to a floating duty, depending on the price situation, and beyond it – a protective duty, which is annually approved by the Ministry of Agriculture.
