Russian sunflower oil export duty to increase in December

In December 2024, Russia will significantly increase the export duties on sunflower oil and meal, with the oil duty rising to 9,195.8 rubles per ton from 2,891.1 rubles in November, and the meal duty increasing to 3,788.4 rubles per ton from 3,422.4 rubles. This adjustment, announced by the Russian Ministry of Agriculture, is based on indicative prices of $954.7 per ton for oil and $212.5 per ton for meal. Notably, the duty on sunflower oil had been zero since June 2023 until it was set at 2,891.1 rubles in November 2024.