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Russia Bans Export of Sunflower Seeds and Imposed Export Quota on Sunflower Oil

Russian Government announced quota of 1.5 million metric tonne for Sunflower oil and 700,000 mt for Soymeal, applicable from 15th April to 31st August 2022. Russian government has already increased the export tax on Sunflower oil, since 1st September 2021, at 70% of the difference between the floating base price, while the floor price is set at $1,000 per tons. 

Ukraine's export activites are already affected, lowering the global Sunflower oil supplies, hence prices are expecetd to remain firm for the coming weeks.