Russia’s Ministry of Agriculture Suggests Raising Export Tariff on Sunflower Seeds

The Russian Ministry of Agriculture recently proposed at a regular government meeting to explore the possibility of tentatively raising export tariffs on sunflower seeds. According to the Russian Ministry of Agriculture, the Meeting also discussed the current market situation of oil products, the 2020 export plan, industry support measures, and how to safeguard the supply of raw materials for processing enterprises.

Oil and fat is one of the important growth points of Russian food exports. Domestic capacity and export scale are expanding rapidly. In 2019, output of vegetable and crude oils refining (including the corn oil) will increase by 12.6%, while the export of oil and fat products will increase by more than 25%, with exports exceeding USD 4 billion.