Russia to Raise Soybean Export Duty

Reported by Interfax on August 3, Russian government announced on July 21 the new export duty rates on several oil crops, with soybean export duty raised substantially, to fulfill its commitment to the WTO.

As regulated, the adjusted soybean export duty (excluding that of Kazakhstan and Belarus) is at the rate of 20% but not less than 35 euro/ton, compared with previous 5% not less than 8.5 euro/ton.