The Ag Ministry of Russia and the Fat-and-Oil Union have different view on regulation of the sunflower oil market

UkrAgroConsult

The Ag Ministry of Russia may upwardly revise the formula for the floating export tax on sunflower oil to ensure the provision of oil extraction plants with sunflower seed on a timely basis (the current tax rate is 70%), UkrAgroConsult reports.

At the same time, to optimize the industry’s operation in the longer term, the Fat-and-Oil Union advocates abolishing the tax and switching to targeted support, or at least cutting the tax rate from 70% to 30%.

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Tags: Russia, sunflower oil