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Russia to triple sunflower oil export tax for December
Release time:
2024-12-13 17:42
Source:
Foreign media, November 25: Russia's agriculture ministry said on Monday that the export tax on sunflower oil will be tripled to 9,195.8 rubles ($88.4) per ton in December.
Domestic retail prices for sunflower oil in Russia have risen more than 7 percent since the start of the year, official data showed. Wholesale prices for sunflower oil have risen more than 19 percent since the beginning of October, consultancy SovEcon said.
Higher cooking oil prices are also driving up food inflation, which currently stands at 8.5% in Russia.
Due to bad weather, Russia's sunflower seed production this year was 15.7 million tons, a decrease of nearly 10% year-on-year.
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