Russia: Moscow raises cap on sunflower oil and sunflower meal exports

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Russia has raised the ceiling on sunflower oil and sunflower meal exports, the government announced today, citing the satisfactory level of quantities available on the domestic market.

Moscow banned sunflower seed exports from late March to late August, imposing restrictions on sunflower oil exports to avoid shortages in the Russian market but also to ease pressure on domestic prices.

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The government announced today that the ceiling on sunflower oil exports has been increased by 400,000 tonnes from the previous ceiling of 1.5 million tonnes, while the limit on sunflower meal exports has been increased by 150,000 tonnes from the previous ceiling of 700,000 tonnes.

The restrictions apply until August 31. The decision to ease restrictions was made as there are sufficient quantities in the domestic market, the Russian government announced, adding that producers would benefit from increased exports.

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Source: Capital

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