Zero duty on export of sunflower oil from Russia to remain in December

Russia will not impose any duty on the export of sunflower oil in December, extending the existing zero duty from November and October. However, the export duty on sunflower meal will be 79.8 rubles per ton, a significant decrease from 1,145 rubles per ton in November. The export duty on sunflower oil is calculated based on the indicative price of $1,178.1 per ton, down from $1,319.1 per ton a month earlier, while the duty on sunflower meal is calculated at $231.1 per ton, down from $252 per ton. This is part of a general policy introduced from September 1, 2021, to August 31, 2023, of imposing a floating export duty of 70% on sunflower oil, calculated from the difference between the base price and the indicative price, reduced by an adjustment factor, and now calculated in rubles instead of dollars.