(September 20, 2022)
The Government of the Russia extended the export duty on soybeans until August 31, 2024, and banned the export of rapeseed until February 28, 2023.
This decision was made to protect the domestic food market of Russia and load the existing capacities for processing agricultural products. Also, a temporary ban on the export of rapeseed has been renewed. It will be valid until February 28, 2023. The previous restrictions applied for the period from March 31 to August 31, 2022.
The list of exceptions, when the temporary restriction will not apply, is still the export of rapeseed to the countries of the Eurasian Economic Union (Armenia, Kazakhstan, Belarus, Kyrgyzstan), as well as Abkhazia, South Ossetia, Donetsk and Lugansk People’s Republics.
The ban will also not affect the export of rapeseed within the framework of international intergovernmental agreements and the provision of humanitarian assistance to foreign states.
Also, the period of validity of high export duties on soybeans, the processed product of which – soybean meal, is used for the production of feed in animal husbandry, has been extended. The rate will remain at the level of 20%, but not less than $100 per ton. This value will be valid until August 31, 2024.
As an expert on the Russian food market, I can add that the Russian Federation introduced duties on the export of rapeseed and soybeans from July 1, 2021.
In 2021, rapeseed production in Russia amounted to 2.79 million tons (2.57 million tons in 2020). Until the end of 2025, it is planned to increase the production of rapeseed to 3.6 million tons.
The processing capacity of rapeseed oilseeds is designed to process about 3 million tons of products. At the same time, the volume of rapeseed oil production in 2021 amounted to 684.5 thousand tons.
In 2021, soybean production in Russia amounted to 4.76 million tons (4.31 million tons in 2020). By the end of 2025, it plans to increase the production of soybeans to 7.5 million tons.
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Business Adviser on Russian Food Market