world news - 08.12.2003

Russia Reduces Lumber Export Duty

The Russian government has reduced the export duty on lumber by half as of October 20 to promote more hard currency earnings. Duty on softwood lumber over 6 mm thickness is reduced to 3% from 6.5% (FOB prices). The minimum lumber export duty will not, it is reported, be below Euro 2.5 per cubic metre. For 6mm or thinner hardwood and softwood plywood the duty is zero now. The log export duty apparently remains unchanged at 5%. There has been criticism of the remaining lumber export duty compared to the zero rate for log exports because the policy is stated to be the encouragement of processed product export critics say the lumber duty should be removed.

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