- Russia cuts wheat export duty by 10.8% to 97.3 rubles/ton from January 12, down from 109.1 rubles/ton.
- Barley and corn duties remain at zero, preserving Russia’s competitive edge in global feed grain markets.
- Indicative wheat price edges up to $228.4/ton from $227.9/ton, signaling steady export demand.
- Duty changes are short-lived, applying only for January 12–13, with markets awaiting the January 14–20 schedule.
- Grain damper mechanism still in force, tying duties to weekly indicative prices versus fixed base levels.
Russia Lowers Wheat Export Duty
Russia’s Ministry of Agriculture has reduced the wheat export duty to 97.3 rubles per ton effective January 12, 2026, a 10.8% cut from the previous 109.1 rubles per ton applied on January 11. The move slightly improves Russian wheat’s price competitiveness in global markets.
Export duties for barley and corn remain at zero, extending their long-standing zero-rated status. This supports Russia’s strong position in feed grain exports at a time when global buyers continue to seek competitively priced Black Sea supplies.
Updated Indicative Prices and Duty Timeline
The latest duty calculations are based on refreshed indicative prices from Moscow Exchange export contract data. Wheat, barley, and corn have all seen marginal price adjustments, with wheat ticking slightly higher and corn easing.
| Commodity | Indicative Price (USD/ton) | Previous Price (USD/ton) | Change (USD/ton) |
|---|---|---|---|
| Wheat | $228.4 | $227.9 | +0.5 |
| Barley | $219.3 | $219.2 | +0.1 |
| Corn | $200.9 | $202.0 | -1.1 |
The Ministry has clarified the timing of these changes: duty rates announced on December 26 apply only for shipments dated January 12–13. Rates to be published on December 30 will govern exports for the period January 14–20, a window that traders are watching closely for further adjustments.
Grain Damper Mechanism in Focus
Since June 2, 2021, Russia’s grain damper mechanism has linked export duties to global price movements. Duties are set at 70% of the difference between fixed base prices and weekly indicative export prices. The current base levels are 18,000 rubles per ton for wheat and 17,875 rubles per ton for both barley and corn.
This formula allows duties to adjust automatically as market prices shift, balancing domestic supply protection with export competitiveness. The latest cut in the wheat duty reflects modest changes in global prices rather than a structural policy shift.
Market Impact and Sentiment
For Black Sea wheat, the move is neutral to slightly bearish. The duty reduction provides a small cost advantage for Russian exporters, but the absolute change is limited, and the higher indicative wheat price suggests steady international demand rather than surplus-driven weakness.
Zero duties on barley and corn continue to underpin Russia’s competitiveness in feed grains, especially into price-sensitive destinations in the Middle East, North Africa, and Asia. However, with the current duty schedule valid for only two days, near-term trade flows are unlikely to shift dramatically until the January 14–20 rates are confirmed.
Source: Market Data
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