The duty on the export of sunflower oil from the Russian Federation in November 2024 will amount to 2,891.1 rubles

Published 2024년 10월 25일

Tridge summary

The Russian Ministry of Agriculture has announced that the duty on sunflower oil exports will increase to 2,891.1 rubles per ton in November 2024, up from a zero duty in June 2023. Meanwhile, the duty on sunflower meal exports will rise to 3,422.4 rubles per ton, up from 2,927.6 rubles in October. The duties are calculated based on the indicative prices for sunflower oil and meal. The floating export duty on sunflower oil, which is levied at 70% on the difference between the base price and the indicative price, was extended until August 2026.

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Original content

The duty on sunflower oil exports from Russia in November 2024 will be 2,891.1 rubles for the first time since June 2023, according to the Russian Ministry of Agriculture. A zero duty on sunflower oil was set in June 2023 for the first time since February 2023. At the same time, the duty on sunflower meal exports in November 2024 will be increased to 3,422.4 rubles per ton, compared to 2,927.6 rubles in October. The duty on oil is calculated based on the indicative price of $897 per ton ($862.2 a month earlier), and on meal — $215 ($217.4 a month earlier). About the duty A floating export duty on sunflower oil in the amount of 70% is levied on the difference between the base price and the indicative price (the arithmetic mean of market prices for the month), reduced by the amount of the adjustment ...

Source: Kvedomosti