Russian soybean processors are asking to introduce an import meal fee

According to the new government regulation in Russia, the conditions for the import of genetically modified fodder soybean and meal have been simplified. Processors are confident that this decision will reduce the price of local meal in Russia by about 20%, which will force processors to reduce purchase prices by 25%, reduce the profitability of the processing itself and subsequently lead to a sharp increase in soybean exports and reduce processing volumes.
In connection with such possible catastrophic consequences, the Head of the Oil and Fat Union of Russia asks the Prime Minister to introduce a 20% protective import duty on soybean meal.