August 13 2002, 18:55

Russia to set up additional duty on butter

Additional special-purpose export duty for butter is supposed to protect Russian producers from increased imports of fat and oil products to Russia. It will be introduced in the amount of 5 percent of value of the goods, but no less than EUR 0.07 per kilogram, and will remain in force until December 31, 2002. The new duty equals one third of the currently effective duty on butter (15 percent, but no less than EUR 0.22 per kilogram).

Main exporters of butter to Russia are Ukraine (37 percent of imports), Belarus (20 percent), New Zealand (14.6 percent) and Finland (11.1 percent).