en.Wedoany.com Reported - The Russian Ministry of Agriculture is exploring the possibility of granting export duty discounts on grain traded through exchanges as an incentive to promote the development of exchange-based grain trading. Deputy Minister Maxim Borovoy revealed this information at the All-Russian Grain Forum. He noted that the current dynamics of exchange grain trading show that "not everyone is willing to participate," although this trend is inevitable.

Borovoy stated that one of the options under discussion is precisely to provide a duty discount. He explained that at this stage, no one may be interested because the duty level is already close to zero, but once the rate increases, this discount should become an important consideration for agricultural producers and exporters purchasing products through the exchange. At the same time, he mentioned that other support measures, such as priority railway transportation arrangements for products purchased on the exchange, "have not been particularly popular." He added, "That's fine, we will also work on this aspect."

The Deputy Minister emphasized that the Ministry of Agriculture opposes forcing grain onto the exchange. Borovoy pointed out, "We are against this initiative. We have stated that it should not be mandatory; instead, conditions should be created so that agricultural producers spontaneously support and voluntarily enter exchange trading."

For many farmers, the main obstacle is not the price but the speed of settlement. Borovoy explained, "That is, even if I see a market-based indicator, I am willing to sell at a slightly lower price, provided I can get the money faster." He added that the next step is to address the issue of the central counterparty to significantly accelerate settlement speed.

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