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Russia will reduce export tariffs on sunflower oil from this week

 Last Update: 2021-11-11
 Source: Internet
 Author: User

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Foreign media news on November 2nd: The Russian Ministry of Agriculture said that from November 1st, the export tariff on Russian sunflower oil will be lowered from October's 227.
20 US dollars to 194.
50 US dollars / ton .

The tariff adjustment is based on a reduction in the reference price of sunflower oil, from US$1324.
70 per ton to US$1277.
90
.

On April 6, 2021, the Russian government implemented Decree No.
546 to manage sunflower oil export tariffs
.
From September 1, 2021 to August 31, 2022, a 70% floating export tariff is imposed on sunflower oil
.

The tariff calculation formula is based on the monthly reference price of sunflower oil published by the Ministry of Agriculture minus the base price of USD 1,000 per ton, and then multiplying by 70%
.
Russia lowers the reference price of sunflower oil by US$50/ton every month
.

The Russian Ministry of Agriculture stated that the tariff policy does not apply to exports to the Eurasian Economic Union (EAEU)
.

Sunflower Oil Export by the Ministry of Agriculture

　　The tariff adjustment is based on a reduction in the reference price of sunflower oil, from US$1324.
70 per ton to US$1277.
90
.

　　The Russian Ministry of Agriculture stated that the tariff policy does not apply to exports to the Eurasian Economic Union (EAEU)
.

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