In Russian manufacturers, the average prices for sunflower oil from April 5 to April 11 collapsed for 4825 rubles (up to 113,350 rubles per ton). This follows from the weekly monitoring of Sovekon.
Analysts believe that the rising period of sunflower prices is over. However, the recession of the price in the market will be limited to record low for recent years. The decline happened for the first time since the beginning of the year. In early April, the average price reached a record 118,175 rubles per ton, for the year prices jumped 40 percent.
The reasons for reducing the value of analytics are seen in the weakening of the market of soy and palm oils. Pressured on prices and the emergence of certainty in the issue of export duties to Russian sunflower oil. The state introduces a “floating” duty, but from September 1. Market participants feared earlier administration of duties, which additionally maintained export quotes.
Previously, the authorities allocated 9 billion rubles on the subsidies to the manufacturers of sand sugar and sunflower oil. The solution concerns companies that participate in the price stabilization agreements. This will fix the cost of a kilogram of sugar at a level not higher than 36 rubles for wholesalers and 46 rubles for retailers, and one liter of oil – at 95 and 110 rubles, respectively.