12/22/2015

Russian deputy minister Evgenii Gromyko proposes reducing wheat export tax

Russia's Agriculture Ministry has proposed that the government reduce or cancel its wheat export tax due to rouble volatility and a decline in global wheat benchmarks, citing first deputy minister Evgenii Gromyko. The rouble has lost about 6 percent against the dollar since the start of December on sliding oil prices and has triggered a rise in Russia's floating wheat export tax.