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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
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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.