The Board of the Eurasian Economic Commission decided to establish a special regime for the export of sunflower seeds from the territory of the Eurasian Economic Union by the end of summer. Currently, there is an export ban on these products, which will end on June 30, 2020. After that, and until August 31, a licensing procedure for export will work.
“The special regime of export of products is due to increased demand in the world market and is associated with the formation of stocks by foreign partners to ensure food security against the background of coronavirus. Before the new crop is harvested in the Union, it is necessary to provide the domestic market with sunflower seeds, preventing the formation of a possible shortage” – commented on the decision, Minister of Trade of the EEC Andrei Slepnev.
Given the large volume of sunflower oil production capacities that has been created in the EAEU member states in recent years, the EEC does not see the dangers of overstocking or the formation of excessively low prices for products from raw materials consumers. And taking into account the fact that the Russian Federation is one of the largest exporters in the specified market, the measure is able to further stimulate the processing of sunflower seeds in the customs territory of the Union with the subsequent sale to the far abroad of finished goods.