Russia extends rapeseed export ban until Feb 29, 2024

MOSCOW. Aug 29 (Interfax) - The Russian government has passed a resolution to ban exports of rapeseed from September 1, 2023 to February 29, 2024.

The document was signed on August 25 and posted on the official website for legal information.

As a result, the current ban on rapeseed exports, which expires on August 31, 2023, will be extended by another six months. As now, the ban will not apply to rapeseed exported through the Zabaikalsk checkpoint.

Russia first imposed restrictions on rapeseed exports from April 1, 2022 to August 31, 2022. Last September, the ban was extended until February 28, 2023, inclusive. Exports were only allowed through the Zabaikalsk checkpoint.

The ban was expected to be extended again from March 1, but the government resolution on its extension until August 31, 2023 was only signed on March 18, which is when the ban went back into effect.

Russia's rapeseed harvest jumped 60% to 4.515 million tonnes in 2022 from 2.794 million tonnes in 2021, the Federal Statistics Service reported.