The Russian government has converted export duties on grain and sunflower oil into rubles

The Russian government has issued a decree on the transfer of duties on the export of Grains, sunflower oil and meal Rubel adopted. The document also provides for an extension of export duties on sunflower oil and sunflower meal by 1 year until August 31, 2023. The regulation was signed on June 30, 2022 and published on the official legal information portal.

As part of the transfer of duties to rubles, the base price for calculating export duties is based on Wheat 15000 rubles/Tonne (instead of $200 per ton), for Barley and Corn 13875 rubles/ton (instead of $185 per ton), for sunflower oil 82500 rubles/ton (instead of $ thousand), for scrap 13875 rubles/ton (instead of $185).

To convert into rubles, an indicator such as “the average US-Dollar-Exchange rate against the currency of the Russian Federation established by the Central Bank of the Russian Federation for 5 working days before the date of calculation of the export duty rate for Grains is established.”

Under the new rules, export duties on sunflower oil and meal will be published on the Ministry of Agriculture's website on the last day of the month preceding their application.

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