Russia has significantly increased its wheat exports

Recent monitoring of the Ministry of agriculture of the Russian Federation showed that since the beginning of the current year Russia has exported almost 23 million tons of wheat, which is above last year’s level by 11%. According to the Ministry, a share of exports of other valuable grain crops, in particular, barley and corn, has also increased. Here a share of exports is also higher than past figures. The Ministry of agriculture of the Russian Federation also notes the trend towards an increase in wholesale prices of wheat and rye flour in the European part of Russia.

It will be recalled that starting February 1, 2015 Russia introduced a duty on wheat exports in order to stabilize the situation on the domestic grain market. The first version of its formula pegged to the Euro exchange rate was valid until May 15, then it was canceled. A new formula for calculation of duty pegged to ruble prices for grain was introduced starting July 1, however, it was also changed in September.

It’s worth remarking that major wheat exporters are the clients of TRANSLOGIX group. Company’s internal resources speak for business development potential in the field of grain corps exports.

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