Putin Wheat Tax Stalls
World Economy

Putin Wheat Tax Stalls

The sun is shining and Russian wheat exporters should be making hay. Farmers are reaping one of their biggest harvests. On top of that, a slump in the ruble that’s hurting domestic businesses should be a boon for exports as many costs shrink in dollar terms, Bloomberg reported. Instead, shipments of wheat abroad are seen down by a quarter for August. For that, the industry can thank President Vladimir Putin’s efforts to restrain prices of staples such as bread as Russians suffer collapsing economic growth and inflation near a 13-year high. His government has imposed a sliding-scale export tax with a burden that grows as the ruble weakens, curbing the price that exporters are willing to pay for the local crop.


Short URL : https://goo.gl/3WxnjH
  1. https://goo.gl/puM7wl
  • https://goo.gl/H0y4NL
  • https://goo.gl/99XT6l
  • https://goo.gl/MLp1LS
  • https://goo.gl/Mjdx3Z

You can also read ...

India is too poor to grow without exporting.
A trade war would bring forward the next financial crisis...
Turkey’s January industrial output rose an annual 12%.
The International Monetary Fund on Thursday revised up its...
Online searches for “bitcoin” fell 82% from December highs.
Suddenly, Bitcoin seems a bit boring. It might be hard to...
Global consumer confidence Primary Index in March has risen to 50.6, tying the record high set in January 2018.
Simmering fears of a global trade war; an embarrassing...
MSS Market in ASEAN Shows 22.3% Growth
The Managed Security Services market in ASEAN continued its...
EBRD’s First Lebanon Deal
The European Bank for Reconstruction and Development has made...
Nippon Steel seeks a sharper edge in specialty products.
Nippon Steel & Sumitomo Metal will buy Swedish counterpart...
Singapore Exports Fall
Singapore’s key non-oil domestic exports unexpectedly declined...