The ban on the export of rapeseeds from Russia will be extended until the end of August

Published 2023년 2월 17일

Tridge summary

A new measure is being implemented to safeguard the domestic food market and stimulate the processing of rapeseed seeds. This move is anticipated to draw extra investment in rapeseed processing, reactivate processing facilities, encourage farmers to maintain production, supply the livestock sector with rapeseed meal, and enhance the export of rapeseed oil. This measure is a continuation of last year's export restrictions on rapeseed oil, which were extended until February 2023. With an expected increase in the harvest of sunflower and rapeseed seeds in 2023, the Ministry of Agriculture predicts a rise in the gross harvest to 20 million tons.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This measure is necessary to protect the domestic food market, the explanatory note to the document says. It is noted that it "will allow attracting additional investments in the processing of rapeseed seeds, reopening processing facilities, maintaining an incentive for production for agricultural producers, which will provide the livestock industry with rapeseed meal, which is in high demand as a high-protein feed for livestock", as well as increase the export of rapeseed oil - products with high added value. Restrictions on the export of rapeseed oil were in effect last year from March 31 to August 31, 2022, and then were extended until the end of February 2023. According to Rosstat, the gross harvest of sunflower and rapeseed seeds last year ...

Source: RG