Specific export tax may invoke Russian farmers to cut wheat exports in the 2015/16. mainmarkets of Russian wheat are Middle East and Mediterannean north Africa. The new wheat tax is set at 50 percent of the customs price per tonne minus 5,500 roubles (98 USD at current rate), but not less than 50 roubles per tonne. The rouble is volatile.


EU allowed this week licences to import 325,254 t of Ukrainian wheat. Until now totaly allowed imports were cca 770,000 t out of a total volume of 950,000 t available in 2015.
The wheat quota was created last year, along with similar quotas for maize and barley, as part of a trade deal between the EU and Kiev.

In February grain exports from Russia dropped significantly. The reason - export tax introduced from 1st February. The tax is set at 15% of the customs price plus 7.50 Eur/t, but no less than 35 Eur/t.