Russia Faces Wheat Trade Disruption Caused by Complex Export Tax
- New levies aimed at securing supplies, damping inflation
- Tax setup introduces risks to forward sales of wheat
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Russia’s complicated wheat export taxes could disrupt trade from the world’s top shipper just as the next crop begins filling silos.
The Russian government launched a flat tax on exports last month, which has already helped slow flows. The measures will switch to floating duties weeks before the next harvest, a mechanism announced as part of a series of efforts to safeguard domestic supply and cool food inflation.