Oilseeds - Oilseeds

Flaxseed: higher duties on imports into the EU

June 6, 2024 at 4:41 PM , Der AUDITOR
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BRUSSELS/OTTAWA. The gradual increase in import taxes on Russian flaxseed imports into the EU has been decided. The fact that they will not be fully adjusted immediately is causing disillusionment among Canadian traders.

Prices increase

The proposal discussed in April to increase import duties on Russian agricultural products, including flaxseed, was officially confirmed at the end of May. With regard to flaxseed from Russia, the import duty will be 10% in the first instance until 31 December 2024. This will be followed by an increase to 20% on 1 January 2025 and from 1 January 2026, a 50% import tax will be levied on flaxseed imports from Russia.

Many processors in the EU had to let this news sink in, even though there was little chance that the proposal would be rejected.

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