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Sep 12, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

wheat export tax

Sovecon lowers forecast for Russian 2020/21 wheat exports by 0.2mn tonnes
Markets

Sovecon lowers forecast for Russian 2020/21 wheat exports by 0.2mn tonnes

  • Russia doubled its wheat export tax to 50 euros ($59) per tonne last month in an attempt to curb high food price inflation amid the coronavirus pandemic. The tax was at 25 euro/tonne on Feb. 15-28.
  • The current low pace of wheat exports brought the estimate down, as did the fall in export prices in March, Sovecon, one of the leading agriculture consultancies in Moscow, said in a note.
Published 02 Apr, 2021 07:55pm
Russia's measures to stabilise domestic food prices
Markets

Russia's measures to stabilise domestic food prices

  • Russia's annual inflation had spiked to 5.8% as of mid-March and is only expected to slow to its central bank's 4% target in the first half of 2022, later than previously expected.
    • Russia has set a grain export quota for overseas shipments of wheat, rye, barley and corn (maize) of 17.5 million tonnes for Feb 15 to June 30.
Published 27 Mar, 2021 06:38pm
Russia may impose formula-based wheat export tax from June 1
Markets

Russia may impose formula-based wheat export tax from June 1

  • Moscow is attempting to reduce wheat exports to help curb rising domestic food prices after President Vladimir Putin criticised food inflation amid the coronavirus pandemic.
  • The formula may be set at 70% of the difference between the price of wheat per tonne and $200, starting from June 1.
Published 30 Jan, 2021 06:55pm
Turkey postpones tender to buy 400,000 tonnes wheat
Markets

Turkey postpones tender to buy 400,000 tonnes wheat

  • The was originally due to close on Tuesday, Jan. 19, but will now close on Friday, Jan. 22, they said.
  • The reason was believed to be bad weather with snow in Turkey disrupting transport of participants to the tender meeting
Published 18 Jan, 2021 06:29pm