On Monday, December 14, Russian Minister of Economic Development Maxim Reshetnikov held a meeting of the Subcommission for Customs Tariff & Non-Tariff Regulation and Protective Measures of the Government Commission for Economic Development & Integration.

The participants of the meeting supported the proposal of the Ministry of Economic Development to introduce a tariff quota for the export of grain crops (wheat, rye, barley, corn). This measure is aimed at stabilizing prices on the domestic market of essential food goods.

The volume of the quota will be 17.5 million tons. Within the established volume, there will be a zero rate for the export of rye, barley and corn. Wheat exports within the quota will be subject to a duty of 25 €/t. If the quota volume is exceeded, the fee will be 50 %, but not less than 100 €/t. The measure is introduced on a temporary basis – from February 15 to June 30, 2021.

The corresponding draft resolution has already been prepared by the Ministry of Economic Development and submitted to the Government for consideration. "This measure will reduce the prices of bakery, pasta and confectionery products," said Maxim Reshetnikov.

It bears reminding that on Thursday, December 10, at a meeting about the situation on the food market the Chairman of the Government of the Russian Federation, Mikhail Mishustin, urged members of the Russian Government to be more responsive to the increase in food prices and gave four days to prepare regulations to solve this problem.

The Subcommittee meeting was attended by the representatives of the Ministry of Agriculture, Ministry of Finance, Ministry of Justice, Ministry of industry and Trade, Ministry of Energy, Federal Antimonopoly Service, Federal Customs Service and the Government of the Russian Federation.