The export duty on sunflower oil from Russia has been reduced to $251.4 per ton since February 1

The export duty of sunflower oil from Russia has been reduced to $251.4 per ton since February 1 from $280.8 in January, the Ministry of Agriculture said.

In December, the duty was $276.7, in November – $194.5, in October – $227.2, in September – $169.9 per ton.

The new duty is calculated based on the indicative price of $1,359.2 per ton (January – based on a price of $1,401.2, December – $1,395.4, November – $1,277.9, October – $1,324.7, September – $1 242.8 per ton).

A floating duty on the export of sunflower oil was introduced in the Russian Federation from September 1, 2021. Its size is 70% of the difference between the base price ($1,000 per ton) and the indicative price (arithmetic average of monthly market prices), reduced by the value of the correction factor ($50 per 1 ton).

Finmarket

Tags: Russia, sunflower oil