12/08/2004 13:54 - According to press-service of Russian government, theHead of Government Mikhail Fradkov on December 6 signed a resolution"About Amendments into Customs Code of Russian Federation Regarding PalmOil".

According to this resolution, a series of changes are made regarding thesub-item of Russia's Foreign Trade Commodity List item 1511 - "palm oil,its fractions crude and refined, but without modifications of chemicalcomposition" - and new rates of import customs duty are established forthe products within this sub-item for the term of 9 months.

The rate of import customs duty for palm oil and its fractions, packagedin crates, vats, canisters and cans with the net weight of up to 200kilos, is set in the amount of 15 percent of customs value, but no lessthan 0.12 euro per kilo; for otherwise delivered palm oil - 5 percent ofcustoms value.

Currently the rate of customs duty for palm oil is 5 percent of customsvalue in all cases.

The resolution will take effect in a month after its official publication.