IKAR in Mass and Industry Media

Russia Grain Index Change Will Make Duty More Reactive

Bloomberg

A change to the calculation of Russia’s grain market indices will make weekly duties more reactive to price changes, Dmitry Rylko, director general at consultant IKAR in Moscow, said by email.

* That will be “of low importance during flat market times and of high importance during rising or falling prices,” he said
* Change removes already executed contracts, which previously were still in the system and influenced the daily index: IKAR
* NOTE: Earlier, Interfax reported that Russia’s National Commodity Exchange changed its method for calculating grain market indexes effective from next week, citing a document and comments from the Russian Union of Grain Exporters
* Moscow Exchange confirmed the report, a spokesman said
* NOTE: Russia switched to a floating export tax from June 2; the duty is defined based on a price index published by the Moscow Exchange
* Russian Wheat-Export Tax to Rise to $80.80/Ton Next Week

26.11.21

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