Egyptian shipments of wheat avert Russia's February new export duty

Russia will apply a duty on its wheat exports starting February, a month after the latest due shipments to Egypt, the world's largest wheat importer, are sent.
The Russian government has said it will apply a duty of at least 35 Euros ($43) per ton of wheat sent for export as it tries to lower prices on its domestic market, hit by the ruble's fall.

Russia's Grain Farmers Union warned the duty could lead to a possible "loss of confidence in Russia as a reliable supplier of grain to the international market, in particular by key importers such as Turkey, Egypt or Iran."

Egypt already signed deals to import around 180,000 tons of Russian wheat to be delivered throughout January.

Mamdouh Abdel Fattah, vice chairman of Egypt's grain buyer GASC, told Al-Ahram Arabic news website that suppliers are obliged to deliver the shipments in time according to contracts signed.