Russia plans to put a ban on the export of sunflower seeds abroad after August 31. According to PRIMEOksana Lut, First Deputy Minister of Agriculture of the country, stated this at the All-Russian Grain.
She explained the extension of the shortage of these products to fulfill the oil extraction plants. This year, the reserves amounted to 15.5 million tons. Although this is a record last year, it is still 2.5 million less than the available refining capacity. In other words, Loot called this proposal the sunflower oil of the domestic market and the rise in prices for this product. Recall that the export was introduced on April 1.
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Earlier, the ministry said that the quota for the export of sunflower oil, cake and solid seed residues is also maintained. Let me remind you that it has accumulated one and a half million tons on the first of the products, and 700 thousand tons on the rest. By decision of the government since September last year, a floating duty was introduced on oil. It is an increased price of one thousand dollars per ton and indicative (arithmetic average of market prices for the month) minus 50 (adjustment factor).
Lut also commented on the interest on flax, which has been invested since May of this year and must also be repaid on August 31. According to her, this will allow avoiding an increase in its area to the detriment of other oilseeds. The Deputy Minister of Thousands recalled that in 2020, the crop harvest amounted to 800, and in the past – 1.3 million tons. At the same time, according to her, the increase occurred precisely at their expense. We remind you that the fee is 20 percent of the price of imported, but not less than $100 per ton.