Russia Introduces Export Duties on Sunflower Meal and Linseed

The Russian government announced the introduction of a duty on exports of sunflower meal and linseed from 1 May to 31 August 2022 when exporting products outside the EAEU, the Cabinet of Ministers press service reports. The indirect tax is 20%, but not less than $100 per tonne.

“Another decision concerns export duties on sunflower flour and linseed. They will apply from 1 May to 31 August 2022 to products exported from Russia outside the Eurasian Economic Union,” the government press service said in a statement.

It is noted that the export of sunflower meal is subject to a variable rate calculated according to a special formula – like the difference between the target price (arithmetic average of market prices for the month) and the base price ($185 per tonne), multiplied by the value of the adjustment coefficient (0.7).

“In order to set an indicative price, the Ministry of Agriculture has been instructed to monitor the market constantly. Information on the amount of the fee will be promptly published on the internet,” the press service said in a statement.

Recall that the Agriculture Ministry had earlier announced the introduction of a complete ban on the export of sunflower and rapeseed from 1 April to 31 August 2022.

The agency also said that a quota on the export of sunflower oil and meal of 1.5 million tonnes and 700,000 tonnes, respectively, will come into force in the Russian Federation from 15 April to 31 August.

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