Last week, the media, citing sources in the market, reported that Russia could raise the export duty on sunflower seeds to 30% from January, from the current 6.5%, but not less than 9.75 euros per ton. Sources of "Vedomosti" said that the rate may increase up to 40%.
This scenario was discussed at a meeting of the government subcommittee on customs-tariff and non-tariff regulation, protective measures in foreign trade under the Ministry of Economic Development. The final decision must be confirmed by a government decree. The introduction of new restrictive measures is lobbied by the Fat and Oil Union. Industry analysts have repeatedly drawn attention to the fact that by such actions processors harm themselves, since in the long term restrictions and bans may lead to a decrease in sunflower sowing areas in the country.
Source: oilworld.ru.
