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Friday, December 26, 2014
If Russian grain producers sell their goods abroad rather than in Russia itself, they earn 65 euros more per ton. Guilt is the ruble decay. The wants the government in Moscow counteract – including export duties .
Instead of an export ban Moscow drives for each tonne of grain exported at least 35 euros at customs in order to secure the supply in the country in the face of the ruble decay. It is introduced by decree of February for five months. On the world market, grain prices have increased, even in the last week because it was feared, the third largest grain exporter could ban the export – last seen in 2010.
At the time, was a miserable harvest in Russia the reason.. This time, the harvest has been exceptionally generous. However, the ruble has already lost 40 percent of its value against the dollar this year. Therefore Russian grain producers earn now 65 euros per ton more if they sell their grain instead of abroad in Germany, as Vice Prime Minister Arkady Dvorkovich said.
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The export tax is 15 percent of the barrel price plus 7.50 Euro, but at least 35 EUR. The special duty is the weakness of the ruble so can not compensate. However, the government in Moscow has apparently already taken other measures to discourage the export. So reported dealer, it has become much more difficult to book freight trains or to obtain certificates confirming the food safety authorities
Association of Russian grain producers preferred to duty on an export ban. However, be warned, the association, all measures that could reduce the profits of the producers would have an impact on the crop for next year. Moreover, the customs could shake the confidence of major customers such as Turkey, Iran and Egypt.
Source: n-tv.de
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