On September 23, Russia zeroed down the export duties on wheat, the Minister of Agriculture of Russia Alexander Tkachev declared.
According to the forecast of Tkachev, in the current year the grain exports will reach 35-40 million tons.
At the same time, as of the morning of September 23, the officials still did not make public the corresponding document.
In late August the Deputy Minister of Agriculture Jambulat Hatuov announced the fact about further zeroing of the export duties on wheat until July 2018. Such measures should increase wheat export volumes, because as of mid-July 2016 the volumes decreased by 7.4% YoY. At the same time, in the current year the grain harvest volumes significantly exceeded the last year figures, which caused the bearish trend.
The government imposed the customs duties on wheat export in February 2015 to stabilize the situation on the domestic market. In October 2015 the Cabinet of Ministers reduced the export duties and excluded hard wheat from the regulatory list. (APK-Inform/Business World Magazine)