Russia's export duty on sunflower oil increases to 8,047 rubles per tonne -- AgMin

MOSCOW. Oct 1 (Interfax) - The export duty on sunflower oil from Russia rises to 8,047.3 rubles per tonne in October from 5,746.2 rubles per tonne in September, the Agriculture Ministry said.

The export duty on sunflower meal rises to 1,408 rubles from 1,119.4 rubles per tonne.

Indicative prices on which the October duties are based were $1,126.6 per tonne for oil against $1,130.6 a month ago and $214.4 for meal versus $217.8.

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. The customs sub-commission recently extended them for another two years after that, until August 31, 2028.