Russia Proposes Higher Wheat Export Tax From Mid-March

Moscow — Russia may impose a higher export tax on wheat and set one on barley and corn from mid-March, its agriculture ministry said on Wednesday, in a renewed push to curb domestic food price growth, according to a Reuters report.

A review by Moscow officials of previously approved state measures to slow down food inflation has supported wheat futures in Paris on expectations that European Union wheat would benefit from a higher Russian tax.

Russia is one of the world’s largest wheat exporters. The ministry also proposed imposing a tax on barley and corn

Officials are due to review all the proposals on Jan. 15.

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