Russia will impose tariffs on soybean exports by June 30

MOSCOW, Feb. 1 (Xinhua) -- Russia will impose tariffs on soybean exports outside the Eurasian Economic Union region between February 1 and June 30 at a rate of 30 percent of the customs value, but not less than 165 euros per ton.
, executive director of the Russian Grease Alliance, told the satellite news agency, "The imposition of tariffs will help adjust the prices of soybeans and livestock soybean meal, and allow companies to expand their procurement, including in the Far East."
export tariffs would also have a positive impact on soybean processing companies' projects.
" Russian government approved the proposed tariff in early January.
's Ministry of Economic Development has previously said the measure was taken because of rising global soybean prices in order to ensure the supply of raw materials for domestic processing and production.
said soybean exports reached a record 1.3m tonnes in the last quarter and that "export tariffs will now keep soybeans in the domestic market".
the oil alliance forecast, soybean oil exports will reach 664,000 tons in the current quarter, soybeanexports will reach 587,000 tons.