Russia’s Novorossiysk Sea Port Reduces Grain-Handling Tariffs

OAO Novorossiysk Commercial Sea Port will reduce grain-handling tariffs by as much as 30 rubles (91 cents) a metric ton on July 1 to help farmers boost exports.

The measure is expected to increase the competitiveness of Russian grain on international markets, the company said today in a website statement, citing Rado Antolovich, acting general director of the port. It didn’t specify the discounted tariff.

Novorossiysk Commercial Sea Port is Russia’s largest port operator by freight handling, according to company data. It runs one of two major grain terminals at the Black Sea harbor. The company is held by Russian oil-pipeline operator OAO Transneft and billionaire Ziyavudin Magomedov’s Summa Group.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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