Sunflower oil producers in Russia began to raise prices for their products with the expiration of the price freeze agreement (October 1, 2021).
In particular, the manufacturer of Oleina and Ideal notified the partners of a 3.2% increase in selling price from October 2. And some retail chains have already accepted this rise in price, for example, the Verny chain, according to the newspaperNotifications».
At the same time, according to the Ministry of Agriculture of the Russian Federation, since the beginning of this year, the cost of sunflower oil has practically not changed.
Moreover, the ministry is confident that there are no objective prerequisites for a significant rise in prices, and “the preservation of a stable situation will also contribute to the projected growth in sunflower production – up to 14 million tons.”
Let us also recall that the duty on the export of sunflower oil from Russia from November 1 to November 30 inclusive will be $ 194.5 per ton, follows from the data on the website of the Ministry of Agriculture of the Russian Federation. From October 1 to October 31, the oil export duty was set at $ 227.2 per ton.
Earlier, from September 1 of this year, a floating export duty on sunflower oil was introduced in Russia. The corresponding decree of the Russian government stated that sunflower oil would be subject to a floating customs duty, which “will allow stabilizing prices for these goods on the domestic market.”
It was noted that “with regard to sunflower oil from September 1, 2021 to August 31, 2022, a floating 70 percent export duty is introduced.”
“It will be charged from the difference between the base price (1,000 dollars per ton) and the indicative price (the arithmetic average of market prices for the month), reduced by the value of the adjustment coefficient (50 dollars per 1 ton),” the resolution specified.
The Cabinet of Ministers believes that the introduction of a floating duty on the export of sunflower oil will help “regulate export volumes and reorient market participants to the export of agricultural products with high added value.”
For September, the duty was set at $ 169.9 per ton. It is calculated on the basis of an indicative price of $ 1242.8 per ton.
We also add that in early August, the head of the Ministry of Economic Development (MED) of the Russian Federation, Maxim Reshetnikov, told reporters that the Russian authorities would not extend the term of the agreement on stabilizing prices for sunflower oil after October 1. “We believe that those constantly working mechanisms that have been adopted will be enough, so the agreement will end its effect and become a thing of the past,” the minister made clear.
Source: Росбалт by www.rosbalt.ru.
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