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Russia’s duty on sunflower oil exports to rise to $88.44 in December 2024

The duty on oil is calculated on the basis of the indicative price of $954.7 per ton

MOSCOW, November 25. /TASS/. The duty on sunflower oil exports from Russia in December 2024 will increase to 9,195.8 rubles ($88.44) from 2,891.1 rubles ($27.8) in November, the Russian Agriculture Ministry said.

At the same time, the duty on sunflower meal exports will be increased to 3,788.4 rubles ($36.43) per ton in December 2024, up from 3,422.4 rubles ($32.91) in November.

The duty on oil is calculated on the basis of the indicative price of $954.7 per ton ($897 a month earlier), on meal - $212.5 ($215 a month earlier).

In November 2024, the duty on sunflower oil exports from Russia, which had been kept at zero since June 2023, amounted to 2,891.1 rubles ($27.8) per ton.

A variable export duty on sunflower oil in the amount of 70% is levied on the difference between the basic price and the indicative price (the arithmetic average of market prices for the month), reduced by the amount of the adjustment coefficient. It was introduced from September 1, 2021, to August 31, 2023. In August 2023, the Russian Government extended the customs duty on sunflower oil and meal exports until August 31, 2024. In August 2024, the duties were extended until August 31, 2026.

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