Russia stops exporting sunflower and rapeseed seeds for this reason

Russia has imposed a temporary ban on the export of rapeseed and sunflower in order to stabilize prices, the Russian TASS news agency reported, citing a statement of the Russian Cabinet on Thursday.

And the Bloomberg News Agency, quoting the report, stated that the procedure will take effect from Friday, April 1, until August 31.

Variable export duties will apply to sunflower seed flour from May 1 to August 31.

Russia is the fifth largest exporter of rapeseed in the world this season and the second for sunflower seed flour.

The government also decided to reduce the number of destinations to which soybeans can be exported from April 1 to August 31, while there are no restrictions within the Eurasian Economic Union region.

Russia has previously imposed quotas on sunflower oil exports, according to the Russian Interfax news agency.

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