Ukraine crisis: Russia raises its sunflower oil export quota – News
Restrictions are in place until August 31
Russia has increased its export quota for sunflower oil and sunflower meal, the government announced on Sunday, citing sufficient domestic supplies.
The country banned sunflower seed exports from late March to late August and imposed a sunflower oil export quota to avoid shortages and ease pressure on domestic prices.
The government said on Sunday that the sunflower oil export quota had been increased by 400,000 tonnes from the previous cap of 1.5 million tonnes, while the restriction on sunflower meal exports had been lifted. 150,000 tonnes compared to a previous limit of 700,000 tonnes.
The restrictions are in place until August 31.
The decision to ease the restrictions was taken because the domestic market is sufficiently supplied, the government said, adding that producers will benefit from increased exports.
READ ALSO :