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Russia’s duty on sunflower oil exports to remain at zero in April

A floating export duty on sunflower oil in the amount of 70% was introduced in Russia from September 1, 2021 to August 31, 2023

MOSCOW, March 25. /TASS/. The duty on the export of sunflower oil from Russia in April 2024 will be zero, as a month earlier, according to the files of the Agriculture Ministry.

A zero duty on sunflower oil was set in June 2023 for the first time since February 2023.

The duty on export of sunflower meal in April 2024 will decrease to 3,404 rubles ($36.7) per ton versus 4,227 rubles ($45.9) in March.

The duty on oil is calculated based on an indicative price of $768.6 per ton ($776.3 a month earlier), on meal - $224.7 ($237.9 a month earlier).

A floating export duty on sunflower oil in the amount of 70% was introduced in Russia from September 1, 2021 to August 31, 2023.

It is charged from the difference between the base price and the indicative price (the arithmetic mean of market prices for the month), reduced by the amount of the adjustment factor.

In August 2023, the Russian government extended the duty on the export of sunflower oil and meal until August 31, 2024.

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