Page 119 - RusRPTJul21

difference between the market price and USD 200/t for wheat, and USD185/t for corn and barley. For the week of 2-8 June, the respective tariff was set at USD 28.1/t for wheat, which is 10% of export price. The second measure is the export quota of 17.5mnt, effective from 15 February until 30 June (63% have already been fulfilled).
The aforementioned mechanisms are price stabilisation measures and are to secure the domestic supply of grain. In 5mo21, the export price is up 25% (USD 275/t), while domestic price growth has slowed to 12% YoY (RUB 15,200-15,800/t for the fourth and third grade). We believe that current price levels still mean upbeat operational results and remain on track for mid-cycle levels.
119 RUSSIA Country Report July 2021 www.intellinews.com