There is not much left before the introduction of the damper for sunflower oil: it should start working on September 1.
But how to calculate the amount of the fee has not yet been decided.
The general formula for the fee is already in place:
The difference between the base price ($ 1,000 per tonne) and the average market price for the month is taken.
70% of this difference is calculated.
USD 50 per tonne is subtracted from the resulting value (an adjustment value that allows to level the transportation costs of exporters).
It is planned that this method of calculating the duty on the export of sunflower oil will make it as fair as possible, since the duty will be tied to the real situation on the market.
However, the Ministry of Agriculture has questions about the only floating value in the above formula. Namely — to the average market price.
How to calculate it and where to get prices to calculate the arithmetic mean?
According to the Ministry of Agriculture, the issue would be easy to solve if using the exchange quotations for sunflower oil prices.
The floating duty on grain is now calculated according to the same principle.
But there is a difference: grain traders and exporters have been registering their transactions on the exchange for a long time.
Vegetable oil sellers have never used this site before. And in order to get stock quotes for a given product, you first have to force them to do it.
If in the end it will be decided to calculate the duty on oil using monitoring of exchange quotations and OTC indices, then the corresponding changes may be made to the decree of the Government of the Russian Federation of July 23, 2013 (No. 623).
But at the moment there is a heated discussion on this proposal.
Will oil sellers work on the exchange?
They themselves do not strive for this at all. As noted in the Russian Fat and Oil Union, such an innovation is inexpedient.
“Today there are few players on the market who are engaged in the processing and export of vegetable oils in comparison with the producers of oilseeds and grains, the order of interaction has already been defined and is working. The market does not need oil exchange trading, the introduction of additional regulatory mechanisms will become a bureaucratic and economically redundant obstacle to doing business. «
According to IKAR CEO Dmitry Rylko, the proposal looks dubious.
There is already a working mechanism for calculating the duty; it uses the index of the group of Baltic ports.
If you enter and use stock quotes, then the indices obtained from this source can be unpredictable and poorly reflect the situation on the market.
But Vice President of the Russian Grain Union Alexander Korbut supports this initiative. After all, this model has been working in the field of grain export for a long time.
According to Alexander, if we can count on the duty on oil, then this should be done in the same way as for grain.
Currently, the Ministry of Agriculture, representatives of the Exchange and the Federal Antimonopoly Service (FAS) are thinking about the issue.
What the final decision will be is still unknown. And this worries buttermakers, because there is only a month left before the introduction of the duty.
