Baseline price for calculating export duty on wheat to rise to 17,000 rubles as of June 1 - agriculture minister

SOCHI. May 19 (Interfax) - The baseline price for calculating the export duty on wheat, the so-called cut-off price, will rise to 17,000 rubles from the current 15,000 rubles on June 1, Agriculture Minister Dmitry Patrushev told reporters on the sidelines of the All-Russia Grain Forum in Sochi on Friday.

"The main issue is adjusting the export duty. I think that we will adjust the export duty in such a way that from June 1, the cut-off price, which is currently 15,000 rubles per tonne, will be adjusted to 17,000 rubles per tonne, which should allow for agricultural producers retaining more funds," Patrushev said.