MOSCOW, 15 March – RIA Novosti. Market prices for sunflower oil are currently at record levels, said Maxim Basov, CEO of Rusagro, one of Russia's largest agricultural holdings.
According to the group's presentation to the online conference with investors and analysts, which took place on Monday, sunflower prices (CPT terms of delivery), having decreased in December compared to November, resumed their growth at the beginning of the year. If in December the price was 38 rubles per kilogram (excluding VAT), then in January – 40 rubles, in February – 44 rubles, and in March – 47 rubles.
“Prices for sunflower are growing, because there is not enough sunflower in the country to load factories, and prices for sunflower oil are now at an absolute record in the history of mankind, over the past 200 years,” Basov said during an online conference. At the same time, he said, the group has built up sunflower stocks to run until the end of the season (the agricultural year for oilseeds runs from September to August).
“We are now proceeding from the assumption that the government will probably introduce a duty on the export of oil, starting with the new season. But we will be able to work by the end of this season. We are almost provided with sunflower until the end of the season, and we plan to the price of 52-54 rubles (per kilogram – ed.) for sunflower with VAT, today's record price of oil 1.65 thousand dollars (per tonne – ed.) allows us to earn money, “- said the top manager. Russia-China: The main thing
In December, the Russian government announced a set of measures in connection with the rise in food prices in Russia. In particular, export duties on the export of sunflower and rapeseed (from January 9) were raised to a protective level, a duty on the export of soybeans (from February 1) was introduced, and a quota on the export of grain crops and duties on the export of wheat, corn and barley.
From June 2, in Russia, within the framework of the “grain damper”, a flexible export duty on wheat, corn and barley will start working. In addition, the Ministry of Economic Development of the Russian Federation in December submitted to the government a draft resolution on the possibility of introducing export customs duties on sunflower oil in the amount of 15%, but not less than 135 euros per ton.
The head of the Ministry of Economic Development and Trade Maxim Reshetnikov said last week that the government is working on the issue of introducing a damper to smooth out fluctuations in prices for vegetable oils by analogy with the mechanism that operates in relation to grain. According to him, we are talking about the introduction of the mechanism in the new season, however, the parameters of the mechanism and the timing of the introduction have yet to be discussed.