In March 2025, the export duty on sunflower oil from Russia will drop to 9,333.2 rubles per ton, which is almost half the February rate, which was 17,786.4 rubles. This became known from official data published by the Ministry of Agriculture of the Russian Federation.
In addition, the duty on the export of sunflower meal will also be reduced: from 3,888.7 rubles in February to 1,742.3 rubles per ton in March.
The calculation of the duty on oil is based on the indicative price of $1,065.1 per ton, while for meal this figure is $204.1 per ton.
A floating export duty mechanism for sunflower oil at 70% of the difference between the reference and indicative prices was introduced on September 1, 2021, and has been extended several times, most recently until August 31, 2026.
In 2024, the global sunflower oil market showed significant price fluctuations, mainly due to the impact of unfavorable weather conditions and a tense geopolitical environment. According to the International Grains Council (IGC), for 2024, export prices for sunflower oil increased by 8%, despite the general trend towards lower demand from the largest importers — India and China. At the same time, Russia continued to hold a leading position in global sunflower oil exports, accounting for about 30% of global supplies, which makes changes in Russian duties an important factor for the global market.