:. Food Industry News

Categories: Food Ingredients News

Russia May Raise Import Tariff on Tropical Oils

Source: Reuters
17/04/2009

Moscow, April 16 - Russia plans to raise from June 1 a 5 percent import tariff on tropical oils, as their usage as substitutes for dairy products damages the domestic dairy industry, Agriculture Ministry Yelena Skrynnik said on Thursday.

Daily News Alerts

"We will have to do it from June 1," Skrynnik told reporters, when asked if the government planned to change the tariff. But she said the actual rate of the new tariff had yet to be calculated.

The Russian Dairy Union, the industry's lobbying group, in a letter to President Dmitry Medvedev published on its website www.dairyunion.ru [http://www.dairyunion.ru] said imports of tropical oils nearly doubled in the last five years to over 900,000 tonnes in 2008.

A tariff of 5 percent is currently applied to palm, palm kernel and coconut oil in canisters and other containers larger than 200 kg.

Russia suspended for the first time the tariff on unpackaged tropical oils for nine months from September 2007 as part of a process to remove import duties on commodities which Russia does not produce, or produces in insufficient quantity.

Later it extended the zero tariff to March 2009.

Unpackaged palm oil constitutes the bulk of these commodities imports to Russia.

Russia imported 236,000 tonnes of palm oil from the start of the 2008/09 marketing year in October to the end of March 2009, 150,000 less than a year ago, Andrei Sizov Jr., executive director of SovEcon agricultural analysts, told Reuters.

He said the decline resulted from a rise in domestic output of sunseed oil, which in some cases may substitute palm oil.



GO   View more articles on this subject


More Alerts from 17/04/2009


Email This Article To A Colleague     Print A Copy Of This Page
 
 
 
 
FLEXNEWS - Business News for the Food Industry

About Us | Contact Us | Terms & Conditions | Privacy Policy
 
Daily News Alerts
Related Items
Brazil Wheat Import Tariff Kept Despite Low Supply...
Russia Sugar Output from Raws down 10.7 Pct Yr/Yr
Russia Sets 10 Percent Import Duty on Tropical Oils...
Russia Resets Zero Tariff on Tropical Oils to June...
Russian Palm Imports to Halve on Higher Tax
Indonesia's Astra Agro Revises Up CPO Forecast
Oleon to Double Malaysia Palm Processing Capacity
Russian Grocer X5 Plans Higher 2010 Capex
Seventh Continent Owner Cedes Stake in Debt Deal
Subway Eyes 1,000 Russian Outlets by 2015

More in Food Industry News
Procter & Gamble Repurchasing Shares, Quiet on...
US Shoppers Going Green Despite Struggling Economy
Wessanen Sells Liberty Richter to World Finer Foods
Cheesecake Factory Sticks to 2010 Forecast
Brenntag Changes 2.5 Bln Euro Loan to Allow IPO
European Commission Refers Greece to ECJ over Unjustified...
JM Smucker's Quarterly Net Income Increases 172%
Ferrero, Hershey Would Likely Break up Cadbury
Indonesia's Astra Agro Revises Up CPO Forecast
Cocoa Supplier Olam to Benefit from Consolidation Among...

Top Headlines
Procter & Gamble Repurchasing Shares, Quiet on...
US Shoppers Going Green Despite Struggling Economy
Wessanen Sells Liberty Richter to World Finer Foods
Cheesecake Factory Sticks to 2010 Forecast
European Commission Refers Greece to ECJ over Unjustified...
JM Smucker's Quarterly Net Income Increases 172%
Cocoa Supplier Olam to Benefit from Consolidation Among...
Avebe and National Starch Food Innovation to Expand...
Auchan Backs Hypermarkets as Rivals Rethink
Ferrero Could Eye Cadbury Gum, Candy Unit
Dole Food Posts Wider Q3 Loss
Fonterra Sells Stake in UK Joint Venture to Arla
Imperial Sugar Company Closes Three-Way Joint Venture...
PepsiCo to Invest $100 Million in Egypt in 2010
Ex-Parmalat Auditors Settle US Investor Lawsuit
Tesco in Broadband Push as Reaches Beyond Groceries
India Sugar Protest Forces Parliament to Shut
Kerry Group Keeps Full Year Earnings Growth Forecast
Nestle Professional to Acquire Vitality Foodservice
Pinnacle Foods Acquires Birds Eye Foods for USD 1.3...
DSM Makes Great Strides in Production Processes for...
Russian Grocer X5 Plans Higher 2010 Capex
Brazil: Laep in Talks to Sell Dairy Plant to Nestle
SunOpta Announces Opening of Natural and Organic Sesame...
Products Comprising, and Uses of, Decarboxylated Phenolic...
Process for the Preparation of Packaged Heat-Preserved...


 


FLEXNEWS 2009 - All rights reserved
ISSN 1950-6228