Russia has announced the suspension of tariffs on exports of sunflower oil and sunflower seed oil to support local producers with a well-supplied domestic market.
Sanziana Georgescu
Economy
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The Russian government has decided to suspend, until August 31, customs duties on exports of sunflower oil and sunflower seed oil, introduced in 2021 to protect the domestic market. This measure aims to support local producers, as the domestic market is fully supplied. Russia and Ukraine dominate global sunflower production, and estimates suggest a revival in Russian exports, with 4.7 million tons forecast for the 2024/25 season.
Sources
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