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Russia retains duty on sunflower oil exports at zero in August

The duty on oil is calculated based on an indicative price of $798.3 per ton ($773.3 a month earlier), on meal - $211.2 ($198.6 a month earlier)

MOSCOW, July 25. /TASS/. Russia will retain the duty on exports of sunflower oil in August 2024 at zero, like a month earlier, according to the Russian Ministry of Agriculture.

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

At the same time, the duty on the export of sunflower meal in August 2024 will increase to 1,869.7 rubles ($21.65) per ton against 901.3 rubles ($10.44) in July.

The duty on oil is calculated based on an indicative price of $798.3 per ton ($773.3 a month earlier), on meal - $211.2 ($198.6 a month earlier).

A floating export duty on sunflower oil of 70% was introduced from September 1, 2021, to August 31, 2023. In August 2023, the Russian government extended the duty on exports of sunflower oil and meal until August 31, 2024.

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