Belarus to initiate export customs duties for rapeseeds

Belarus initiates customs duties for rapeseeds, exported from the country and beyond borders of the customs territory of countries-members of the Eurasian Economic Community (EAEC or EurAsEC), at the level of 100 EUR/t, according to the decree of the President of Belarus #272.

Hereafter, the rate of the customs duties will face changes, when the need arises, taking into account development of the price situation on the export market of rapeseeds.

The document takes effect in 10 days after the official publication.

According to Gennady Bogdan, the head of the department of coordination and development of industries producing food products and tobacco goods of the Belarusian State Concern of Food Industry Belgospischeprom, the government imposes the duties in order to supply the domestic processors of rapeseed with sufficient volumes of the raw material for loading of their production capacities.

According to G.Bogdan, the government plans to realize the maximum production of rapeseed oil, cake and meal inside the country.

As a reminder, in 2010, the general production of rapeseed in the country will possibly total nearly 1 mln tonnes as opposed to 750 thsd tonnes in 2009.

Previously, representatives of the concern Belgospischeprom forecasted the increase of rapseed processing capacities in the country to the level of 900 thsd tonnes in the season-2010 as opposed to 615.8 thsd tonnes at the beginning of the year.

In 2010, the forecasted volumes of rapeseed oil production in Belarus will total nearly 300 thsd tonnes, up 2.2 times compared to 2009, and up 3.7 times compared to 2008.

According to OJSC "Belarusian Universal Commodity Exchange", as of April 29, 2010, price quotations for rapeseeds totaled 310 EUR/t. The average weighted price for rapeseed oil at the last exchange auction on May 20 totaled 630 EUR/t.


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