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Russia's grain exports in February, including flour and pulses, fell to 1 million tonnes from 2.2 million in January following the introduction of a tax on wheat exports, SovEcon agriculture analysts said in a note. The tax, imposed from February 1, is part of the government's efforts to curb exports boosted by a slump in the rouble. The tax is set at 15 percent of the customs price plus 7.50 euros, but no less than 35 euros ($38) a tonne.
Wheat exports fell to 350,000-370,000 tonnes in February from 2.0 million tonnes in January, SovEcon said. It expects small wheat supplies to continue as traders have to fulfil previously agreed contracts. Railway supplies of wheat for exports rose to 803,000 tonnes in January from 773,000 tonnes in December. Barley exports rose sharply to 370,000 tonnes in February, while maize (corn) exports totalled 200,000 to 220,000 tonnes, SovEcon said.

Copyright Reuters, 2015

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