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The duty on the export of sunflower oil from the Russian Federation from November 1, like the previous five months in a row, will be zero; on the export of sunflower meal it will decrease to 5,773.1 rubles, reports the Ministry of Agriculture of the Russian Federation.
The duty rate for sunflower oil is calculated at an indicative price of $838.8 per ton. In October, a zero duty was also in effect; its rate was calculated at an indicative price of $822.6 per ton.
The November duty on the export of sunflower meal is calculated at an indicative price of $249.9 per ton. Its value in September was 7519.6 rubles per ton with an indicative price of $276 per ton.
The flexible export duty on sunflower oil in Russia was initially established from September 1, 2021 to August 31, 2022, and the export duty on sunflower meal - from May 1 to August 31. At the beginning of July 2022, the Russian government extended the validity of duties on the export of sunflower oil, meal and sunflower seeds by a year - until August 31, 2023 - and transferred the calculation of duties on oil and meal to rubles.
Duty rates are calculated as the difference between the indicative price (the arithmetic average of market prices for the month) and the base price, multiplied by the value of the adjustment factor. To calculate the ruble values of duties that have been introduced since July, the arithmetic mean exchange rate of the dollar against the ruble, established by the Bank of Russia for five working days preceding the date of calculation, is used.
