MOSCOW, Russia (Reuters) — Russia, one of the world’s major wheat exporters, plans to make a decision on removing a tax on wheat exports by mid-May, said deputy prime minister Arkady Dvorkovich.
The government initially imposed the tax from Feb. 1 until June 30 to cool domestic prices and food inflation after the ruble tumbled late last year.
“We are aiming to ensure that the duty ceases to work in its current form in the very near future as there is no need to keep it under current market conditions,” Dvorkovich said.
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“The duty on grain in its current state may be cancelled even earlier than July 1,” Dvorkovich said.
Later, he said the duty level would be changed to “close to zero or to zero”.
Dvorkovich said he had asked Russia’s agriculture ministry to submit proposals so it could decide soon , but it would also be able to impose export duties quickly if needed.
Russia is not considering for now removing fully its ban on most Western food imports, set in August for one year, but it is considering easing measures for selective countries and products.
