MOSCOW, RUSSIA — Russia intends to set an export tariff for soybeans, Reuters reported, citing a government source.

The new duty will be set at 30% but not less than €165 per tonne. It is expected to go into effect Feb. 1, 2021, through June 30, 2021.

On Dec. 15, Russia also announced plans to impose an export tax on wheat in an effort to lower rising food prices.