Russian Prime Minister Dmitry Medvedev has asked his ministers to submit proposals by April 15 on a possible extension of a wheat export tax, the government said on Thursday. Russia has imposed a duty on wheat exports since February 1 in an effort to cool domestic prices as the rouble tumbled. The measure is due to expire on June 30, but traders have expressed concerns the tax could be extended.
Medvedev has charged the ministers for agriculture, the economy and finance, with the participation of industry unions, with providing a justification of keeping the duty beyond June 30, the government said on its website.
Grain exporters and Russia's Grain Union, a Moscow-based farmers' lobby, have recently asked the government to remove the duty before June 30 to allow traders and farmers to sign contracts for the future crop without a risk.
The tax on wheat exports is set at 15 percent of the customs price plus 7.50 euros ($8), but no less than 35 euros a tonne.
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