Russia Says Floating Grain-Export Tax to Start in June (1)

Russia plans to impose new floating taxes on grain exports in June as part of the top wheat shipper’s efforts to cool food inflation.

Those levies will replace the wheat tax being introduced in mid-February, and others that will follow for barley and corn in March, Economy Minister Maxim Reshetnikov said at a press conference. The minister had indicatedearlier on Thursday that new measures to curb domestic food-price volatility could take effect in April.

Reshetnikov clarified the timing of the new taxes as wheat prices hold near a multiyear high and President Vladimir Putin urges officials to keep food ...