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EEC Board established special regime for exporting sunflower seeds from EAEU till summer’s end

EEC Board established special regime for exporting sunflower seeds from EAEU till summer’s end

6/16/2020

The Board of the Eurasian Economic Commission has decided to establish till summer’s end a special regime for exporting sunflower seeds from the Eurasian Economic Union. Nowadays, this product is prohibited for export; the export prohibition is valid until June 30, 2020. An export authorization procedure will be applied after that and until August 31.

 

"The special export regime is due to increased demand in the global market and is associated with reserves being formed by foreign partners to ensure food security at times of coronavirus. Before new harvesting in the Union, it is required to provide the internal market with sunflower seeds, preventing possible deficit," Andrey Slepnev, EEC Minister in charge of Trade, commented on the decision adopted. 

 

In view of large capacities for manufacturing sunflower oil created in the EAEU Member States in recent years, the EEC finds no danger of overstocking or raw material consumers establishing excessively low prices for products. And given the fact that the Russian Federation is one of the largest exporters in this market, the measure can further stimulate sunflower seed processing in the Union’s customs territory with subsequent sale of finished goods to far-abroad countries.​