The Subcommittee on Customs and Tariff Regulation has approved a floating duty on the export of sunflower oil from Russia. It will operate from September 1, 2021 to September 1, 2022.
© Maxim Blinov
Also at the meeting of the subcommittee, they supported the proposal of the Ministry of Agriculture to establish the export customs duty rate for sunflower seeds in the amount of 50%, but not less than $ 320 per 1 ton for a period from July 1, 2021 to September 1, 2022.
This decision should contribute to maintaining the required volume of production in the domestic market and stabilizing retail prices for sunflower oil in Russia.
The export duty on sunflower oil will amount to 70%; it will be charged on the difference between the base price and the indicative price.
Earlier, the Minister of Economic Development of Russia Maxim Reshetnikov announced plans to introduce duties on the export of sunflower oil.
Source site russian.rt.com