10 Dec 2009 09:57

Russia raises import duty on rice by 70%

MOSCOW. Dec 10 (Interfax) - Starting from December 10, Russia has increased the working import duty on rice in order to support domestic rice producers, who posted a record harvest this year.

Russia's rice import duty will increase to 0.12 euro per kilogram beginning December 10, the Federal Customs Service said.

The export duty will be in effect for nine months.

This year the Grain Union forecasts the rice harvest will total about 1 million tonnes, which will provide about 500,000 tonnes of grain rice.

Russia's annual demand for rice is estimated at 600,000 tonnes. Just four year's ago domestic production was only sufficient to supply 30% of domestic demand.

Last year Russia harvested 738,300 tonnes of rice net weight, 4.8% more than the 704,500 tonnes harvested in 2007