Russia has decided to extend the validity of the zero rate of export customs duty on wheat. According to the Russian authorities, such a move is aimed at creating favorable conditions for the export of wheat. According to the press service of the Ministry of Agriculture of Russia, we are talking about the extension of the export duty for a year, that is, until July 1, 2020.
In addition, Russia and the PRC three years ago began to work out a draft of a new land grain transportation. It is expected that this project should ensure the collaboration of Siberian agricultural producers and the Chinese market. Such a project can be much more profitable than maritime transport, but the basis of this path should be a modern infrastructure for storing and processing products. And here problems arose, because of which the implementation of an ambitious project had to be postponed for several years. Now the project is again in demand. The status of the project is confirmed by the fact that in March 2019, RT-Business Development LLC joined the project.
In fact, the "New Land Grain Corridor Russia - China" is the shortest and most profitable route for transporting Siberian agricultural products to Chinese markets. It is supposed that about eight million tons of grain per year will go to the Trans-Baikal railway terminal to China, and the volume of one-time storage will be up to 80,000 tons. It should become the final point of collection of large export lots, and several more terminals are planned to be built along the Trans-Siberian Railway, which will accumulate grain on the way to China. The partner from the Chinese side is the largest food corporation in China, COFCO.
Based on zol.ru.
