Russia. Soybean shipments will more than halve amid the current export tax

Soybean exports from Russia in September 2021/22 totaled 13.7 KMT (-86% y-o-y).

The export tax on soybean exports outside the EAEU has been extended this season. However, in view of peculiarities of the Far Eastern market, which is export-oriented, the tax rate was cut to 20% (30% in MY 2020/21), UkrAgroConsult reports.

A decrease is observed in exports to all key destinations, except for Kazakhstan (11.1 KMT vs. 0.1 KMT a year earlier): China (-88%), Republic of Korea (-59%) and Belarus (-27%).