Sunflower oil shortage may occur in Georgia

The export of sunflower oil from alternative markets will cause a rise in the price of the product due to logistics, the businessman believes In Georgia, there may be a shortage of sunflower oil in the event of the introduction of export quotas in Russia, said Iva Chkonia, President of the Business Association of Distributors of Georgia. The Ministry of Agriculture of the Russian Federation proposed to introduce quotas for the export of sunflower oil and meal. From September 1, 2021, Russia has a floating export duty on sunflower oil. It is defined as 70% of the difference between the base price of $1,000 per ton and the indicative price (arithmetic average of monthly market prices), reduced by a correction factor of $50 per ton. This mechanism is valid until August 31, 2022. "We cannot receive sunflower oil from Ukraine, but if Russia assigns quotas, this will affect the availability of products. For example, the population will start buying stocks, and there will be a negative ...