World meat industry news

From October 1, the Russian authorities will introduce flexible export duties on several types of food and non-food products. The corresponding resolution was published on the Government website.

Their size will be determined depending on the ratio of the ruble and dollar exchange rates. When it reaches 80-85 rubles it will be four percent, 85-90 - 4.5, 90-95 - 5.5, above 95 - seven, but at 80 rubles and below it will be zero. According to the authorities, this measure will help avoid price surges in the domestic market and stabilize exchange rates. This mechanism was conceived by the Government as an additional way to protect the domestic market and ensure comfortable prices for Russian consumers. The measure will be in effect until the end of next year.

A specific list of similar products has also already been determined. These include fish and shellfish, bird eggs, vegetables and fruits and alcohol. A special rate will apply to nitrogen fertilizers - 10%, but not less than 1,100 rubles per ton, for phosphorus - the same, but less than 2,100. The exception will be seed and other wheat, non-seed rye, corn and barley, sunflower oil and meal . They also plan to remove so-called “sensitive” goods from duties. For example, these products are seriously dependent on imported components (tea, coffee, pharmaceuticals). Let us remind you that today duties are already in effect on grain, some types of fat and oil products, timber, oil and ferrous metal scrap. Moreover, they are fixed and independent of the ruble exchange rate. There are no plans to tie them to it yet.

Over the past period of this year, there has been a record drop in the Russian currency against the American currency – by 40 percent. The reason for this was the soft monetary policy of the Central Bank. However, even tightening it did not help much to solve the problem. Thus, in early August, the dollar exchange rate exceeded 100 rubles, and as of yesterday it had fallen to only plus or minus 96.4.