The duty on sunflower oil exports from Russia will increase 3.2 times in December to almost 9.2 thousand rubles per ton

Published 2024년 11월 25일

Tridge summary

The Russian Ministry of Agriculture has announced a significant increase in export duties on sunflower oil and meal effective December 2022. The duty on sunflower oil will rise to 9,195.8 rubles per ton, up from 2,891.1 rubles in November, and the duty on sunflower meal will increase to 3,788.4 rubles from 3,422.4 rubles. The duties are calculated as a percentage of the indicative market price and the base price set by the ministry. These duties, introduced in July 2022, will be in effect until September 2026 after being extended for two years in August 2024.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Moscow. November 25. INTERFAX.RU - The duty on sunflower oil exports from the Russian Federation in December will be 9,195.8 rubles per ton, which is 3.2 times more than in November (2,891.1 rubles). The duty on sunflower meal will increase to 3,788.4 rubles from 3,422.4 rubles in November. The calculation of duties was presented by the Ministry of Agriculture. The indicative prices, based on which the duties were calculated, were: for oil - $954.7 per ton ($897 a month ago), for meal - $212.5 ($215). The base price for calculating the duty on meal from September 1, 2023 was increased by 2 thousand rubles, to 15,875 rubles per ton, for calculating the duty on oil - has not changed and is 82,500 rubles per ton. The duties on oil and meal are calculated in rubles from July 2022. The amount of duty on sunflower oil is 70% of the difference between the base price (82,500 rubles per ton) and the indicative price (the arithmetic average of market prices for the month). The export duty ...
Source: Interfax

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