The Minister of Agriculture of the Russian Federation Dmitry Patrushev proposed to introduce quotas for the export of sunflower oil and meal. TASS writes about it.
“In order to maintain a stable situation, the Ministry of Agriculture of Russia has worked out an additional set of measures, including quotas for oil and meal. Corresponding proposals have already been sent to the Ministry of Economic Development,” Patrushev said.
According to the head of the Ministry of Agriculture, there are no difficulties with the availability of sunflower oil in the country, including due to the previously adopted measures of customs and tariff regulation.
Later, Mikhail Maltsev, executive director of the Oil and Fat Union, specified that the quota for the export of sunflower oil could be 1.5 million tons, meal - 700 thousand tons. It is assumed that the quota will be valid from April 15 to September 1, 2022.
Also, according to Mikhail Maltsev, it is planned to increase duties on the export of oilseeds and introduce an export duty on oilseed flax.
In the Russian Federation, from September 1, 2021 to August 31, 2022, a floating export duty on sunflower oil in the amount of 70% is in effect. It is charged from 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).