Russia to introduce quota on sunflower oil exports as of April 15, to ban exporting sunflower seeds, rapeseeds as of April 1 - Agriculture Ministry

MOSCOW. March 31 (Interfax) - Russia will introduce a quota of 1.5 million tonnes on exporting sunflower oil as of April 15, as well as a ban on exporting sunflower seeds and rapeseeds.

The Agriculture Ministry said that the subcommittee on customs and tariff regulation has supported the agency's proposal of implementing a restriction on exporting oilseeds and products processed from them.

A quota on the export of sunflower meal in the amount of 700,000 tonnes is also being proposed.

It is envisaged that quotas for oil and meal will be valid through August 31, 2022. They will be distributed among producers according to the historical principle.

The ban on the export of sunflower and rapeseed will also be in force until August 31.

Furthermore, a proposal has been made to limit the number of checkpoints through which it is possible to export fat and oil products. For soybean meal, it was proposed that only the sea checkpoint in the Kaliningrad Region be maintained, while soybean exports are sent to checkpoints in the Far Eastern Federal District.

"At the present time amid a sharp rise in world prices for sunflower oil and oilseeds there is an increased demand for Russian products," the Agriculture Ministry said in explaining the decision. The proposed solutions are aimed at protecting the domestic market and meeting the needs of processing companies, the ministry said.