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Russian government can introduce export duty on sunflower oil from September 1

The export duty for sunflower and colza was increased from 6.5% to 30% but at least 165 euro per tonne from January 9 to June 30, 2021

© Valery Matitsyn/TASS

MOSCOW, March 25. /TASS/. The Russian government can introduce a sunflower oil export duty from September 1 and the sunflower seed duty will be effective from July 1, Minister of Economic Development Maxim Reshetnikov told reporters on Thursday.

"We will line up duties for seeds. The current one will end on June 30, and the new one will be effective therefore since July 1 and further on. That is, we will have no misalignment in this regard. Regarding the sunflower oil duty - [the date is] September 1; in other words, we target new harvest. No current export duty is introduced for sunflower oil in reliance on agreements with producers [regarding oil and sugar price stabilization] that they will support the domestic market," Reshetnikov said. There will be no problems with deliveries to the domestic market in terms of volumes and the price," the Minister added.

The export duty for sunflower and colza was increased from 6.5% to 30% but at least 165 euro per tonne from January 9 to June 30, 2021.

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