The duty on sunflower oil exports from Russia will be extended until 2026

Domestic prices are protected from sudden changes in world prices The export duty on sunflower oil exports from the Russian Federation will be extended until September 2026, said Mikhail Maltsev, Executive Director of the Russian Oil and Fat Union. “Domestic prices are protected from sudden changes in world prices or the ruble exchange rate by the export duty, which has been at zero for over a year. Last week, a decision was made to extend the export duty until September 2026,” he said. As a reminder, a floating export duty of 70% on sunflower oil was introduced from September 1, 2021 to August 31, 2023. It 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 coefficient. The zero duty on sunflower oil was established in June 2023. In August 2023, the Russian government extended the duty on the export of sunflower oil and meal until August 31, 2024. The executive ...