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Russia's Ministry of Economic Development has announced to the public a draft government decree imposing export tariffs on soybean exports, the Russian Agricultural Investor Network reported on December 24.
the draft imposes a tariff of 30 per cent on Russian soybean exports from 1 February to 30 June 2021, at a rate of not less than 165 euros per ton.
ministry explained that the tariff measures would help to increase the utilization rate of soybean processing facilities and curb the rise in the price of soybean processing products (soybean oil and soybean meal).
also pointed out that in recent years, Russian soybean production increased, product quality to maintain a high level.
19 years, soybean production has increased 12-fold to a capacity of 4.65 million tons.
production of soybean oil and soybean meal increased 19-fold to 720,000 tons and 2.94 million tons, respectively.
according to the national agricultural export plan, Russian soybean oil exports will increase by 35% from 2020 to US$645 million, while soybean meal exports will increase 1.5 times to US$813 million.
main factor in the achievement of export restrictions is the shortage of oil raw materials.
, the capacity utilization rate of Russian oil and grease enterprises is less than 30%.
in order to improve the domestic soybean industry capacity utilization rate and curb the price of processed products, Russia decided to impose export tariffs on soybeans.
analysts said a tariff on soybean exports would hit agricultural producers in the Far East hard.
about 2m tonnes of soybeans in the Far East, half of which is exported.
export tariffs, domestic soybean transport subsidies are required for Producers in the Far East.
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