Sunflower oil export duty to increase in April (Google Translate)

Ministry of Agriculture of Russia: export duty on sunflower oil in April will rise to $313 per ton.

MOSCOW, March 14 – PRIME. The duty on the export of sunflower oil from the Russian Federation from April 1 to April 30 inclusive will be $313 per ton, follows from the information on the website of the Russian Ministry of Agriculture.

The rate is calculated at an indicative price of $1,447.2 per ton of sunflower oil (arithmetic average of monthly market prices reduced by $50 per ton).

The export duty on sunflower oil from Russia from March 1 to March 31 is set at $260.1 per ton.

In Russia, for the period from September 1, 2021 to August 31, 2022, a flexible export duty on sunflower oil has been introduced. Its value is 70% of the difference between the indicative price and the base price, which is set at $1,000 per ton.

The Ministry of Agriculture of the Russian Federation, no later than the 15th day of each month, calculates duty rates and publishes information on indicative prices for sunflower oil. The calculated rates are entered from the 1st day of the following month.

The source of information for price monitoring carried out by the Ministry of Agriculture is the daily data published by Refinitiv SA for sunflower oil (quotation Sunflower Oil NWE Ex-Tank 6 Ports Position 1) in dollars per ton. The monitoring period is the calendar month preceding the month in which the rates are calculated. (Google Translate).

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