10298
Russia Grain Export Duty
World Economy

Russia Grain Export Duty

Russian grain export duty takes effect on Sunday. Grain export duty makes 15% of customs cost of a grain batch plus 7.5 euro, but no less than 35 euro per one ton, Tass reported. The government has declared this measure in December 2014 to make Russian grain sales to foreign markets less attractive and to stabilize flour and bread domestic prices. For instance, a grain ton cost $265 per ton at the Chicago Mercantile Exchange in December, whereas the domestic price made 11,000 roubles ($159). So, export was 50% more attractive than sales on the domestic market. Following grain supply slump in Russia flour and bread prices hiked in November-December 2014.

 

Short URL : http://goo.gl/aS2nMw

You can also read ...

While China tries to alleviate its demographic crunch, the aging society means a pension shortfall.
Forget that image of sweatshops making all kinds of cheap...
Russia Economic Recovery Underway
Retail sales in Russia picked up in April, while real wages...
In 2017 banks had total mortgage lending of around $352 billion.
High levels of household debt are the greatest risk to Sweden’...
Greece at Crucial Point
Discussions are heating up over future debt repayments for...
Brazil CB Keeps Rates on Hold
Brazil’s central bank considered cutting interest rates last...
Peru Economy Strengthens
Economic growth in Peru strengthened in the first quarter...
EU Tells Italy to Cut Debt, Warns of Euro Spillover
Italy’s incoming government should aim to cut its heavy public...
Saudi Gov’t Told Not to Boost Spending
The International Monetary Fund urged the Saudi government not...

Trending

Googleplus