Russia approves grain export quota of 24 mln tonnes from Feb 15 to June 30, 2024

MOSCOW. Dec 27 (Interfax) - Prime Minister Mikhail Mishustin signed a resolution on December 23 setting the quota for grain exports from Russia at 24 million tonnes for the period from February 15 through June 30, 2024.

The document was signed on December 23 and posted on the official website for legal information.

The quota applies to exports of wheat, barley, corn and rye to markets outside the Eurasian Economic Union

Meanwhile, a quota for the export of Russian durum wheat (EAES HS code 1001 19 000 0) for from February 15 to June 30, 2024 was not established, the resolution says. The export of this wheat is prohibited through May 31, 2024.

As reported, starting in 2024, the quota is divided into main (90%) and additional parts (10%). The new mechanism gives exporters the right to voluntarily refuse to honor the quota or part of it. The additional part, formed in part from the shares of these "refuseniks," will be redistributed among those companies that already have shares in the main part of the quota. The Ministry of Agriculture said that this mechanism will contribute to the maximum selection towards the quota.

Russia began to impose quotas on grain exports in 2020. Restrictions of 7 million tonnes were introduced from April 1 through June 30. A new quota came into force from February 15 through June 30, 2021 with a volume of 17.5 million tonnes. Unlike the previous one, it became tariff-based and was distributed based on historical principle. At the end of 2021, the government decided that this quota would be an annual one, valid from February 15 through June 30.

In 2022, its size was 11 million tonnes, including 8 million tonnes of wheat. In 2023, the quota reached 25.5 million tonnes without being divided into types of grain.