The Government of the Russian Federation has increased the base export prices for sunflower oil and sunflower meal, on the basis of which export duties are calculated.
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According to the press service of the Cabinet of Ministers, the base export price for sunflower oil has increased from 82,500 to 90,750 rubles per ton, and for sunflower meal from 15,875 to 17,463 rubles per ton. "The decision is aimed at supporting enterprises engaged in the processing of sunflower seeds, stimulating the growth of production and export of sunflower oil, as it will reduce the amount of export customs duties on this product," the message says. The rates of export customs duties on this product are calculated according to a special formula taking into account the difference between the indicative export price (average of market prices for the month) and the base export price approved by the government. That is, the higher the base export price, the lower the duty rate, the message notes. The resolution was prepared for the implementation of the decision of the subcommittee on customs-tariff and non-tariff regulation, protective measures in foreign trade of the ...