Cabinet of Ministers extends customs duties on sunflower oil and meal for a year
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The validity period of customs duties on sunflower oil and meal, which are exported outside the Eurasian Economic Union, has been extended until August 31, 2024, reported press service of the Russian government.
The decision was made to provide processing enterprises with raw materials, and the livestock industry – with oilseed products.
The export customs duty rate for sunflower oil will be calculated taking into account the base export price of 82,500 rubles. per ton. The rate on sunflower meal will decrease. It is calculated according to a special formula – as the difference between the arithmetic average of market prices for the month and the base price, multiplied by a correction factor of 0.7. Thus, the rate will decrease, despite the fact that the base export price will increase from 13,875 to 15,875 rubles. per ton.
In May, the export duty on sunflower oil from Russia decreased by almost 20% and amounted to 1122.2 rubles. The duty on the export of meal was increased to 6577.7 rubles.
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