The duty on the export of sunflower oil from the Russian Federation will again be zero in April

Refined Sunflower Oil

Published Mar 26, 2024

Tridge summary

The Russian Federation has decided to maintain the export duty on sunflower oil at zero for April, extending this policy for the eleventh consecutive month. In contrast, the export duty on sunflower meal will be significantly reduced by 19.3%, setting it at 3,403.9 rubles per ton, down from 4,227 rubles. These adjustments are based on the indicative prices of $768.6 per ton for oil and $224.7 for meal. The Ministry of Agriculture's calculations also include an increase in the base price for meal duty to 15,875 rubles per ton, while the base price for oil remains at 82,500 rubles per ton. The duties, which are calculated in rubles, are determined by the difference between the base and indicative prices, adjusted by a specific factor.

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Original content

Moscow. March 25. INTERFAX.RU - The duty on the export of sunflower oil from the Russian Federation in April, as in the previous 10 months, will be zero. The duty on sunflower meal will decrease by 19.3% to 3 thousand 403.9 rubles from 4 thousand 227 rubles per ton in March. The calculations of duties were presented by the Ministry of Agriculture. Indicative prices, on the basis of which duties were calculated, were: for oil – $768.6 per ton ($776 a month ago), for meal – $224.7 ($237.9). 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, it did not change and is 82,500 rubles per ton. Duties on oil and meal are calculated in rubles from July 2022. The duty on sunflower oil is 70% of the difference between the base price (82,500 rubles per ton) and the indicative price (the ...

Source: Interfax