Russia has reduced its sunflower oil export tax because of the change in the formula it uses to calculate it's sunflower oil to support shipments while its rouble currency hovers near multi-year highs, the agriculture ministry said on Saturday.
The ministry said that 7 roubles were $163.3 per tonne for July, at the current rate per tonne.
The tax for July was set in U.S. dollars, at $560.1 per tonne.
The Russian government set the base price for the tax calculation on Friday at 82,500 roubles per tonne of sunflower oil instead of the previous $1,000 a tonne.
The new July tax is based on an indicative price of $1,800. The agriculture ministry said that it had 2 tonne per tonne.
The rouble was strengthened to seven-year highs this week, supported by capital controls, but is expected to depreciate in the long term and lost almost 6% in Moscow trade on Friday.
It closed at 51.50 to the dollar on the interbank market RUB on Friday, stronger than the Moscow close of 54.50.