Russia plans to introduce export duty on soybean shipments following President Vladimir Putin’s call to cool food-price inflation, reports Bloomberg.
A sub-commission on custom and tariff regulation approved a soybean export duty of 30%, but not less than 165 euros ($202)/ton, Interfax newswire reported on Saturday, citing a person it didn’t name.
The tariff will take effect on Feb. 1 and will remain in place through June 30, according to the report.
