Russia's export duty on sunflower oil increase to 5,746.2 rubles per tonne in Sept -- AgMin

MOSCOW. Aug 25 (Interfax) - The export duty on sunflower oil from Russia will rise to 5,746.2 rubles per tonne in September, the Agriculture Ministry said.

The export duty on sunflower meal will be 1,119.4 rubles per tonne.

The estimated duties for August are 4,640.1 rubles per tonne for oil and 963.4 rubles per tonne for meal. However, they have not been applied: the government decided to suspend these duties from July 29 to August 31, 2025.

The July duty on oil was 4,739.3 rubles and that on meal was 1,054.4 rubles per tonne.

Indicative prices on which the September duties are based were $1,130.6 per tonne for oil against $1,138.7 a month ago and $217.8 for meal versus $220.4.

The duty on sunflower oil is 70% of the difference between the baseline price and the indicative price, which is the average market price for the month.

Russia introduced a "sunflower damper" mechanism on September 1, 2021. Duties have been calculated in rubles since July 2022 rather than in dollars as previously.

The baseline price for calculating the duty on sunflower oil is 82,500 rubles per tonne and 15,875 rubles per tonne for sunflower meal.

The duties were extended for two years in August 2024, until September 1, 2026.