Oilseeds - Oilseeds

Sunflower seeds: Russia issues drastic rise in export tariffs

April 8, 2021 at 11:32 AM , Der AUDITOR
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SOFIA/MOSCOW. While the EU anticipates a rise in sunflower seed production, Russia has finally taken the long-awaited decision to raise export tariffs drastically. EU production estimates are surprisingly optimistic. Sowing is finally well underway in Bulgaria.

Export tariff of 50% to apply as of July

After weeks of speculations Russia's Prime Minister Mikhail Mishustin finally signed a decree on Wednesday announcing that the export tariff for sunflower seeds will rise to 50% as of 1 July. The minimum payable rate is USD 320/mt and the tariff is to apply until 31 August 2022. For rapeseed, the 30% export tariff will now also apply until this date and the export tariff for sunflower seed oil will be raised to 70% as of 1 September. These tariffs do not apply to shipments to the Eurasian Economic Union.

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