Russia set a quota mechanism for grain exports from February 15.
The volume of the export quota amounts to 11 million tons, of which 8 million tons account for wheat. The order has been signed by Russian Prime Minister Mikheil Mishustin in late 2021.
According to the Ministry of Agriculture of Russia, the quotas are distributed to 206 companies, including 164 companies have received permits for the wheat exports, while 176 companies - for the corn and barley exports. Most exporters received quotas on both wheat and other grains.
The current quota mechanism will be effective until June 30.
From February 16, Russia reduces its wheat export tax from USD 92.8 to USD 93.2 and this export tax will be effective until February 22.
The export tax on wheat will increase from USD 73.3 to USD 74.1 on per ton of barley, while export tax will maintain at USD 52.7 on corn.
Export tax is based on indicative prices for grain, which is USD 332.7 per ton of wheat (USD 333.2 a week earlier), USD 290.9 per ton of barley (USD 289.8 a week ago) and USD 260.3 (USD 260.4 a week ago) for corn.
Russia has imposed a floating tax on grain exports since June 2 last year, which is determined on a weekly basis based on the value of grain on the Moscow Stock Exchange.
Russia is the main import market for both wheat and flour for Georgia. Last year, Georgia spent USD 93.4 million on the imports of 366,766 tons of wheat, of which 337,694 tons accounted for Russian wheat (USD 87.4 million).
