Source: Oleoscope (Russia)
Starting in April 2025, Russia will implement a duty of 4,568.7 rubles per ton on sunflower oil exports, which is significantly lower than the March rate of 9,333.2 rubles per ton, representing a 50% decrease.
For sunflower meal exports, the duty, effective in April, has been cut by 1.9 times, now set at 939.5 rubles per ton, down from March’s rate of 1,742.3 rubles per ton. These new regulations were revealed by the Russian Ministry of Agriculture.
The indicative price for oil is recorded at $1,065.7, slightly up from $1,065.1 the previous month, while the price for meal has risen to $206.1 from March’s figure of $204.1. However, the base prices remain unchanged, standing at 82,500 rubles per ton for oil and 15,875 rubles per ton for meal.
A floating export duty of 70% on sunflower oil is applied based on the difference between the base and indicative prices (the average of market prices throughout the month). In contrast, the export duty on sunflower meal is determined by the difference between the indicative and base prices, adjusted by a correction factor of 0.7.
Market experts observe that this duty reduction seeks to promote the export of sunflower oil and meal by alleviating the financial strain on exporters. Such a decrease in duties could enhance the international competitiveness of Russian goods and potentially boost export volumes.
