The duty on sunflower oil exports from Russia will remain at zero in October

Published 2024년 9월 25일

Tridge summary

Russia will have zero export duty on sunflower oil starting October 2023, a policy in place since June 2023. However, the export duty on sunflower meal will increase by 1.6% to 2,927.6 rubles from 2,880.7 rubles in September. The duties on oil and meal are calculated in rubles since July 2022, using formulas based on the indicative prices and the difference between the indicative price and the base price.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Moscow. September 25. INTERFAX.RU - The duty on sunflower oil exports from Russia will again be zero in October, and the duty on sunflower meal will increase by 1.6%. The calculation of duties was presented by the Ministry of Agriculture. The duty on oil has been kept at zero since June 2023. The duty on sunflower meal will increase by 1.6% to 2,927.6 rubles from 2,880.7 rubles in September. The indicative prices on which the duties were calculated were: for oil - $862.2 per ton ($823.6 a month ago), for meal - $217.4 ($222.3). The base price for calculating the duty on meal is 15,875 rubles per ton, for calculating the duty on oil - 82,500 rubles per ton. The duties on oil and meal are calculated in rubles from July 2022. The amount of the 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 on sunflower ...
Source: Interfax

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