Russian ministry suggests higher export duties for sunflowers

MOSCOW, Feb 28 (PRIME) -- The Russian Agriculture Ministry has suggested that the government’s sub-commission on customs tariff and non-tariff regulation discuss a temporary increase of the sunflower export duty, the ministry said in a statement on Friday.

The participants of a government meeting and Russia’s largest oils and fats producers chaired by Deputy Minister Oksana Lut discussed the situation on the market and export plans in 2020.

“Participants of the meeting discussed the issues connected with provision of necessary raw materials to processing companies. In particular, a temporary increase of the export duty on sunflower seeds may become an efficient regulatory measure on the sunflower oil market. The ministry submitted the issue for consideration of the sub-commission on customs tariff and non-tariff regulation,” the ministry said.

In 2019, production of vegetable oils and of their unrefined fractions in Russia increased by 12.6%, with exports rising by more than 25% to more than U.S. $4 billion.

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