Russia may implement the export duty on soybean at the amount of 30% but not less than 165 euro per tonne since February 1, 2021. The decision was approved at the meeting of subcommission for customs, tariff and non-tariff regulations, safeguard measures for external trade last week.
The duty to be valid until June 30, 2021. The current export duty on Russian soybean is 0%.
Previously, Russia raised the export tax on sunflower seed and rapeseed to 30% but not less than 165 EUR/t. It will be in force from Januery 9 to June 30, 2021. The current export duty on sunflower seed is 6.5% but not less than 9.75 EUR/t, on rapeseed - 6.5% but not less than 11.4 EUR/t. The country raised the export duty on oilseeds to stabilize the inner food prices.