Starting January 1, 2025, the Russian government will impose a 5% export duty on peas, chickpeas, and lentils exported outside the Eurasian Economic Union (EAEU). This permanent measure aims to balance exports and domestic consumption.
For 2024, flexible duties ranging from 4% to 7% will apply depending on the ruble exchange rate.
Despite record legume exports of 3.2 million tonnes in the 2023-2024 agricultural year, exports are expected to drop to 1.7 million tonnes in 2024-2025 due to a sharp decline in production. Notably, shipments to China fell significantly, affecting the overall numbers.
Chickpea and lentil exports soared in 2023, increasing 2.1-fold and 2.4-fold respectively, reflecting Russia's growing dominance in the global legume market.
Comments
No comments yet. Be the first to comment!