Russia introduces export duty on rapeseed instead of ban on exports

The Russian Agriculture Ministry has no plans to extend the ban on the export of rape seeds, which is valid until August 31, 2024. This is reported by TASS with reference to the press service of the ministry.

At the same time, as the ministry notes, a draft decree on the introduction of an export duty on this type of products for the period until August 31, 2026 has been developed. It will amount to 30% of the cost, but not less than €165 per ton.

Previous restrictions on rapeseed exports were in effect since September 1, 2023, in March 2024, the Russian government renewed a temporary ban on the export of rapeseed, it is valid until August 31, 2024. The rCabinet of Ministers noted that the measure will ensure the utilization of domestic enterprises that produce rapeseed oil. The goal is to provide the livestock industry with products from the processing of this oilseed crop.

Tags: export, rapeseed, restrictions, Russia