May 15, 2015 / 7:53 AM / 3 years ago

Russian govt says lifts wheat export duty

MOSCOW, May 15 (Reuters) - Russia’s government said on Friday it had decided to lift a wheat export duty.

On its Twitter feed, the government said: “The decision has been taken about the abolition of the export duty on wheat.”

Russia, one of the world’s major wheat exporters, initially imposed the tax from Feb. 1 until June 30 to cool domestic prices and food inflation after the rouble tumbled late last year.

But Russian wheat prices have been falling and buyers have been betting on an export tax removal. (Reporting by Alexander Winning, writing by Elizabeth Piper, editing by Gareth Jones)

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