Russia: New customs rules could liven up grain export

Grain exports from Russia could climb to the end of the month, after the customs authority has introduced a more easily manageable payment system for all deliveries abroad. The Russian Customs and traders were clashed because of the amount of the duty, which was introduced on July 1. The uncertainty of trade meant that wheat shipments from the core areas of the Russian grain exports to their lowest level since 2004 were broken. In the first 15 days of the new year, Russia has only exported 434.000 tons of grain. 200,000 tons of which were wheat. There are still large stocks from the old crop in the camp and also the new crop is a good yielder.
Although there is now a solution in sight, the President of the Russian grain Union Arkady Zlochevsky remains skeptical about whether the volume of exports in the second half of July will be accelerated. Some dealers require financial protection, releasing only supplied after the customs clearance and the export of the goods from the supplier of wheat.
Black Sea wheat with 12.5% protein costs $199,5 per tonne fob last week. The Russian Government says that the duty on wheat exports only then comes to bear when the price of the ruble significantly expires. Since July 1, the rate of the Russian currency only by 3% compared to the U.S. dropped $. In 2014 was the exchange rate non-volatile. At that time, the ruble lost 44% of its value, because the price of crude oil fell and finished in Western Nations in the Crimea and Ukraine crisis Russia with sanctions.
Even if the Russian grain export significantly increases until the end of the month, remains the July export significantly behind that of the previous year. Then went 2 to 2.5 million tons abroad, while it cannot now only 1.5 million tonnes, of which 1 million tons of wheat.

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