Export duty on sunflower seeds in Russia will increase to 50%

The Russian authorities have decided to increase the export duty on sunflower seeds. From July 1, it will increase from the current 30%, but not less than 165 euro/MT to 50%, but not less than 320 $ /MT. This rate will be valid until September 1, 2022.
These measures are taken to preserve the required volume of raw materials in the domestic market, protect consumers from price surges in the world market, and stabilize retail prices for sunflower oil.
On top of this, the authorities decided to extend the export duty on rapeseed at a rate of 30% until September next year.