--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20210628-russia-will-adjust-its-soybean-export/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # Russia will adjust its soybean export Publication Date: 2021-06-28T15:00:20-04:00 Last Updated: 2021-07-05T17:47:34-04:00 Author: Dmitry Savinsky (https://www.fertilizerdaily.com/author/dsavinsky/) Categories: [Markets](https://www.fertilizerdaily.com/markets/), [Trade & Policy](https://www.fertilizerdaily.com/trade-and-policy/) ![Russia will adjust its soybean export](https://www.fertilizerdaily.com/wp-content/uploads/2021/06/food-produce-crop-agriculture-healthy-seeds-1015758-pxhere.com_.jpg) The new duty will come into force on July 1. From July 1 this year, Russia imposes a new rate of export duties on soybeans. The current rate is 30% of its customs value but from July it will be 20%, however, not less than $100 per ton. The government has earlier approved the introduction of new duty rates. It will be valid until August 31, 2022, inclusive, and will help to maintain the balance of supply and demand in the Russian market. In 2019, the consumption of soybeans in Russia amounted to 5.5 million tons, while decreased in 2020 to 5 million tons. At the same time, the largest center of soybeans cultivation — the Far East — harvested 1.35 and 1.45 million tons of soybeans, respectively. Tags: [agriculture](https://www.fertilizerdaily.com/tag/agriculture/), [soybean](https://www.fertilizerdaily.com/tag/soybean/) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.