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Russia Resets Zero Tariff on Tropical Oils to June
calendar30-04-2009 | linkReuters | Share This Post:

28/04/2009 (Reuters), Moscow - Russia, because of red tape, has reset a zero tariff on tropical oils to June 1, after which it is expected to rise to 10 percent of the customs value, the government said on Monday.

Russia suspended for the first time a 5 percent tariff on 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.

The government Commission for Protective Measures in Foreign trade, the body responsible for drafting orders on customs tariffs, has decided to extend it until June 1.

Later the commission made another decision - to raise the tariff to 10 percent from June 1 to support domestic dairy producers.

Signing a government order is normally a lengthy procedure, and, as it was not signed in time, the old 5 percent tariff was restored. A government order setting a 10 percent tariff is also yet to be signed and officially published.

Russia is a major buyer of palm oil, which constitutes the bulk of its tropical oil imports.