The authorities are preparing new measures to regulate the oil market to stabilize the domestic market and keep domestic prices from inflation. The Ministry of Agriculture has imposed a 1.5M/mt export quota on sunflower oil from April to October.
The producers are subject to a duty of 70% but not less than USD 1,000/mt. A floating duty has been introduced to export sunflower oil, which until 1 April is set at USD 260,1/MT.
In addition, the Ministry plan to impose 700K/mt of quota on sunflower meal. For the supply of meals, even within the quota, it is proposed to set a floating duty of 70% of the difference between the price based on FOB Argentina and USD 185.
The Ministry of Agriculture proposes to increase the export duty on sunflower and rapeseed by 70% from 1 April, at least USD 490/mt. The duty rate for sunflower is at 50%, not less than USD 320/mt; 30% for rapeseed, not less than USD 177.98/mt.
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