Most departments agree that stock trading in, for example, grain and oil would ensure transparency and fair prices.
But how to organize them — here opinions differ.
Recently, the Ministry of Economic Development of the Russian Federation came up with an initiative to propose a reduction in the export duty on agricultural products on the condition that trading will be conducted through the stock exchange.
The reduction is proposed at the level of 10%.
According to the ministry, this would encourage many market participants to conduct transactions in this format. After all, a high export duty is what farmers and exporters most often complain about.
By the way, the Ministry of Economic Development noted that, according to the results of consultations with representatives of the business community, this particular option for stimulating exchange trading was recognized as the most optimal.
That is, producers and exporters are really looking forward to having a chance to reduce the size of the duty.
The ministry notes that a slight decrease in income from the duty would be offset by the fact that the number of participants in exchange trading could increase many times over.
And this, among other things, would lead to the formation of truly transparent and fully market prices.
True, in order to come to such a format, first it will be necessary to make changes to the legislation: to prescribe that the amount of the export duty on grain and vegetable oil may vary depending on the format in which the transaction takes place.
Ministry of Agriculture: the amount of duty should be fixed
In this department, they believe that another tool should be used.
Namely: to fix the amount of the fee at the time of the conclusion of the contract.
On the one hand, this would make it possible to avoid a decrease in budget revenues received from duties, and on the other hand, it could also become a good tool for stimulating the activity of exchange trading.
The main advantage of this option is the ability to plan transactions for the long term and at the same time know exactly what the final revenue will be.
At the same time, the Ministry of Finance also does not welcome the idea of discounting the export duty, because this could reduce budget revenues.
But he likes the idea of fixing the duty on the date of conclusion of the exchange contract much more. True, the Ministry of Finance notes that in order for such a scheme to work, the government of the Russian Federation must receive the authority to establish a special procedure for calculating duties on transactions with agricultural products.
At present, it has not yet been decided which of the instruments will be used to stimulate exchange trading.
But farmers and exporters expect that all discussions in this area will help them get some opportunities to make transactions easier and more profitable.
