Russia’s ‘Harsh’ Wheat Tax Plan May Trigger Sales and Cut Sowing

Russia’s proposal for additional wheat-export measures from June could prompt faster sales in the near term and discourage some spring plantings.

The biggest wheat shipper already is setting levies on grain shipments from mid-February through June, but it plans to replace them with a permanent tax as part of the response to President Vladimir Putin’s demand to keep food prices in check.

The government now is considering introducing a floating wheat-export tax starting June 1, according to two people familiar with the matter. The tax could be 70% of the amount that remains after $200 is deducted from the ...