The Ministry of Agriculture of Russia does not entirely foreclose the possibility of renewal of the export duties on wheat in terms of force majeure circumstances, the Minister of Agriculture of the Russian Federation Alexander Tkachev declared.
According to him, the government cancelled the export duties, because the market had stabilized, and there was no need to regulate it at all. But in terms of unusual circumstances, for example, if RUR/USD exchange rates reach 80 or 100 RUR, the officials will impose the duties again. Or in case of poor grain harvest – not 116 million tons, but 40 million tons only. Then the government will have to stop the exports to keep grains on the domestic market.
The government zeroed down the export duties on wheat from September 23, 2016, until July 1, 2018. (APK-Inform/Business World Magazine)