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The export duty rate on sunflower oil from the Russian Federation will triple in December, reaching 9,195.8 rubles per ton, according to the Ministry of Agriculture.
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The export duty rate on sunflower oil from the Russian Federation will triple in December, reaching 9,195.8 rubles per ton, according to the Ministry of Agriculture.

The export duty rate on sunflower oil from the Russian Federation will increase to 9,195.8 rubles per ton in December, which is three times higher than in November. The duty rate on sunflower meal will also rise to 3,788.4 rubles. The decision to extend the duties until 2026 was made by the Ministry of Agriculture of the Russian Federation in August 2024.

29 November 2024 29 November 2024

In December of the current year, the export duty rate on sunflower oil from the Russian Federation will increase to 9,195.8 rubles per ton, which is three times higher than in November (2,891.1 rubles).

The duty rate on sunflower meal will also be raised in December and will reach 3,788.4 rubles, whereas in November it was 3,422.4 rubles.

The Ministry of Agriculture of the Russian Federation provided information on the new duty rates.

The following indicative prices were used as the basis for the duty calculation: for oil - $954.7 per ton ($897 in the previous month) and for meal - $212.5 ($215).

The cost of the basic calculation of the duty on meal from September 1, 2023, was increased by 2,000 rubles and amounts to 15,875 rubles per ton, while the base price for the duty calculation on oil remained unchanged at 82,500 rubles per ton.

The application of export duties on sunflower oil and meal is carried out in rubles since July 2022. The duty rate on sunflower oil is 70% of the difference between the base price (82,500 rubles per ton) and the indicative price (average market price for the month). The export duty on sunflower meal is calculated by subtracting the base price (15,875 rubles per ton) from the indicative price (average market price for the month), and then multiplying the result by a corrective coefficient (0.7).

In August 2024, a decision was made to extend the validity of these duties for two years, until September 1, 2026.

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