Russian Sunflower Oil and Meal Export Duties Set for Sharp September Hike

Russia's Ministry of Agriculture has announced a significant increase in export duties on sunflower oil and meal, set to take effect in September. According to the ministry's report, the export duty on sunflower oil will nearly double, climbing from RUB 7,748 per ton in August to RUB 14,377.7 per ton.

The increase is even more pronounced for sunflower meal, with the export duty scheduled to rise 6.3-fold. The current rate of RUB 312.4 per ton will surge to RUB 1,958.8 per ton next month.

The ministry calculated the September export duties based on indicative prices of $1,319.9 per ton for sunflower oil, up from $1,298.5 per ton in July, and $240.3 per ton for sunflower meal, compared with $228 per ton previously.

Source: APK-Inform