A floating duty on sunflower oil exports will be introduced in Russia.

The new measure is planned to be introduced from September 1 this year to August 31, 2022, RIA Novosti news agency reports.

The Government has introduced a 70% duty to be paid on the difference between the base price ($1,000 per ton) and the indicative price (arithmetic average of the market prices per month) decreased by the adjustment factor ($50 per ton).

Earlier, the adjustment of the export duty on sunflower seeds was approved. It will amount to 50% of the customs value, but no less than $320 per ton.

Made in Russia // Made in Russia

Author: Kseniya Gustova