Russian sunflower oil export duty to rise by more than 150 USD/t in June




Since June 1, 2022, the export duty on sunflower oil in Russia will increase from 372.2 USD/t acting in May to 525 USD/t, informs Ministry of Agriculture of Russia.

The downward correction is based on the growth of the indicative price of the product from 1531.8 USD/t to 1750 USD/t.

A decree of Russian government No546 as of April 6, 2021 implemented a damper mechanism on sunflower oil export that provided for the imposition of the floating export duty in the amount of 70% for the period from September 1, 2021 to August 31, 2022.

Since June 1, the export duty on sunflower meal will increase from 96.3 USD/t acting in May to 105 USD/t.