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MOSCOW, February 12 The Ministry of Agriculture of the Russian Federation proposed adding another 4 million tons to the grain export quota of 24 million tons introduced on February 15, follows from the draft resolution of the Cabinet of Ministers , posted on the portal of draft regulatory legal acts.
The quota for grain exports from the Russian Federation will be valid from February 15, 2024 to June 30, 2024. It is set at 24 million tons for wheat, corn, barley and rye, without breakdown by individual crop; The ministry proposes to increase this volume.
«Establish… until June 30, 2024 (inclusive) a separate tariff quota for the export outside the territory of the Russian Federation to states that are not members of the Eurasian Economic Union, wheat and meslin (code 1001 99 000 0 CN FEA), rye (code 1002 90 000 0 CN FEA of the EAEU), barley (code 1003 90 000 0 CN FEA EAEU) and corn (code 1005 90 000 0 CN FEA EAEU), exported in accordance with the customs export procedure, in the amount of 4 million tons,” says in the project.
The distribution of the volume of the new separate tariff quota is carried out by the Ministry of Agriculture among exporters, to whom the bulk of the export quota has already been distributed according to a formula that takes into account the volume of grain exported by them from December 1, 2022 to November 30, 2023. “The specified draft resolution of the government of the Russian Federation was developed in connection with the updated preliminary data from Rosstat on the production and consumption of grain, as well as new data from the Federal Customs Service on its export,” the press service later commented on the ministry’s proposal to increase the quota.
Export quota grain regulations, which begin to operate in the Russian Federation on February 15 of each year, from 2024 are divided into the main (90%) and additional parts. The main part is distributed on a historical basis, and a reduction factor is calculated for each exporter (equal to the percentage of quota sampled the season earlier).
Additional volume can only be received by exporters to whom the main part of the quota was distributed. It consists of 10% of the total quota volume, the volume freed up after the reduction factor, and the volume from refusals. A reduction factor will be applied to it from 2025.