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“The Ministry of Agriculture supports the possibility of considering the issue of introducing a permitting procedure for the export of oilseeds, the final decision will be made following a discussion of this initiative with interested federal executive bodies,” – said a ministry official, noting that a letter was sent to the Ministry of Industry and Trade.
As explained in the Ministry of Agriculture, at present, high export demand, a decrease in sunflower harvest in the largest exporting countries of sunflower oil (Russia and Ukraine), as well as the devaluation of the ruble lead to a significant increase in the price of sunflower. This, in turn, leads to an increase in the price of sunflower oil, which is one of the socially significant products, the ministry said.
According to the Ministry of Agriculture, the sale of sunflower seeds on the exchange will ensure transparent pricing and open competition in the market, and will also allow the formation of exchange-based financial instruments for hedging price risks. The admission of a wide range of participants to exchange trading will ensure maximum transparency of pricing in the market, the ministry added.
The Vedomosti newspaper wrote on October 12 that the Ministry of Agriculture proposes a new mechanism for regulating the export of oilseeds, which will stimulate “transparent pricing” for them on the domestic market . A prerequisite for obtaining a permit for the export of oilseeds should be the company’s participation in exchange trading.
