New measures to regulate the sunflower oil and sunflower meal are introduced in Russia from April

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.