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Russia Sunflower oil: Sunflower oil prices continued to rise at a slower pace from 30 November to 6 December

by | Dec 9, 2021 | Oil Seeds, Sunflower Seeds

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Sunflower oil prices continued to rise slowly from 30 November to 6 December – Rosstat.

From 30 November to 6 December, prices for sunflower oil, which was finally unregulated under an agreement between suppliers and traders, slowed down compared to the previous week. “Prime” reported this, citing monitoring data from analysts at the Federal Statistical Office (Rosstat).

“Sunflower oil rose by 0.32%, while a week earlier it rose by 0.39%. From the beginning of the year to 6 December, sunflower oil has increased by 8% “, Rosstat points out.

On 1 October this year, the actions of the price agreements that set wholesale and retail prices for sunflower oil ended in the Russian Federation.

The export duty on sunflower oil from the Russian Federation will be USD 276.7 per tonne from 1 December, up from USD 194.5 in November this year.

The rate is calculated using a benchmark price of USD 1395.4 per tonne of sunflower oil (arithmetic average of market prices for the month, reduced by USD 50 per tonne).

From the beginning of autumn until the end of next summer, a sliding export duty of 70 % is applied to sunflower oil. This is calculated from the difference between the base price (1000 USD per tonne) and the indicative price (the arithmetic average of market prices per month) minus the adjustment coefficient (50 USD per 1 tonne).

Source: OleoScope

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