MOSCOW, October 12 (RIA Novosti) - The Russian government approved a 30% export duty on barley and 10% on wheat in order to offset growing consumer prices on bread and flour, the Rossiiskaya Gazeta government daily said on Friday.
The need to introduce grain intervention arose when grain prices reached a record level of 6,300 rubles ($250) per metric ton of class 4 wheat and 5,700 rubles ($226) per metric ton of forage fodder in July 2007. Prices of bread, flour and other wheat-based food products also grew as a result.
The government resolution will come into effect on November 12 and will remain in force until April 30, 2008.
The export duties for both wheat and barley will be set at around 22 euros ($31.3) per metric ton during this period.
Russia will export about 12 million metric tons of grain this year, the country's Agriculture Minister Alexei Gordeyev said on Monday. Last year, Russia exported about 11 million tons of grain.
