Putin Wheat Tax Stems Ruble-Led Export Boom Amid Bumper Crop
- Duty that seeks to curb bread prices puts brakes on shipments
- Sows confusion over industry outlook as bakers seek change
This article is for subscribers only.
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.