🌻 Russia Reintroduces Export Duties on Sunflower Oil After 17 Months  

 

 🔹 In November, Russia will implement an export duty on sunflower oil, set at 2,891 rubles per ton, reflecting an indicative price of $897 per ton.

 🔹 The export duty on sunflower meal will also increase from 2,928 rubles to 3,422 rubles per ton due to a price adjustment.

 🔹 The rise in duties may affect the competitiveness of Russian oilseed products in international markets.

Starting in November, Russia will raise the export duty on sunflower oil to 2,891 rubles per ton. This amount was set based on an indicative price of $897 per ton, an increase from last month’s rate of $862.2 per ton, according to Russia’s Ministry of Agriculture.

 For reference, the export duty on sunflower oil had remained at zero for the past 17 months, since June 2023, which helped to support its competitive standing in the market.

 Additionally, in November, the export duty on Russian sunflower meal will increase from 2,928 rubles in October to 3,422 rubles per ton. This growth is linked to a revised indicative price for the product, set at $215 per ton in November (compared to $217.4 per ton in October).

 These changes could impact the international supply of Russian oilseed products, as higher export duties may influence overall export costs.