Consumer Prices for Sunflower Oil Decreased in Russia

Sunflower oil which Ukraine and Russia are major producers, is one of the kitchen products most affected by the invasion of Ukraine. After Russia’s invasion of Ukraine prices hit record highs.

In the period from June 25 to July 1, 2022, consumer prices for sunflower oil in Russia began to decline after a slight increase in the previous week. This is reported by analysts of the Federal State Statistics Service (Rosstat) in their monitoring.

So, according to the agency, during the reporting period, oil fell by 0.2% . A week earlier, prices, on the contrary, grew by 0.01%.

Now in Russia, there is an export duty on butter, which in July is  8408.7 rubles per ton.

It should be noted that, according to Rosstat, the growth rate of prices for margarine slowed down:  from June 25 to July 1, the rise in price amounted to  0.5%, and last week the figures were at the level of  0.9%.

Earlier, Russia announced the transition to the calculation of export duties on sunflower oil and meal in rubles. According to the government decree, the base price for calculating the export duty for oil is 82,500 rubles per ton, for meals – 13,875 rubles per ton.

In addition, the country extended the export duties on sunflower oil, sunflower meal, and sunflower seeds for a year – until August 31, 2023.

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