On-the-Ground Update

Export Duty on Russian Sunflower Oil Increase from August 2022

Anastasia Shilyaeva
Published Jul 29, 2022
The export duty on sunflower oil from Russia is set to increase on the 1st of August to USD 255/MT (RUB 15,987.1) compared to July’s USD 137.37/MT (RUB 8,615.9). The August duty rate is calculated at an indicative price of USD 1,873.3/MT versus an indicative price of USD 1,800.2/MT for July.

Russia introduced a flexible export duty on sunflower oil from 1 September 2021 to 31 August 2022. Duty rates are calculated as the difference between the indicative price (arithmetic average of monthly market prices) and the base price, multiplied by the value of the adjustment factor. From July 2022, the export duty is calculated in rubles. For this calculation the arithmetic average of the USD dollar against the ruble is used, set by the Bank of Russia for five working days preceding the calculation date.
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