MOSCOW: Agriculture consultancy Sovecon said on Friday it could raise its estimate of Russia's 2020/21 wheat exports to 37-38 million tonnes to take account of Moscow's decision to keep taxing exports after July 1.

It had previously forecast exports of 36.3 million tonnes for this season.

Russia's economy ministry said earlier on Friday the country would continue taxing wheat exports in the 2021/22 marketing season that starts on July 1, and will prepare a formula for that, instead of the current fixed tariff.