Starting from August 1, 2024, Russia will impose an export duty on pine nuts in shells. This measure aims to boost exports of high-value-added products processed within the country. According to the Federal State Budgetary Institution, "Agroexport," pine nuts in shells constituted 79.9% of Russia's natural export of pine nuts in 2022, while cleaned pine nuts accounted for 20.1%.
Previously, the absence of adequate legal regulations in Russia's pine nut harvesting sector favoured entrepreneurs specializing in purchasing and exporting pine nuts in shells. However, since August 2023, Korean pine nuts have been classified as strategically important resources, leading to significant export restrictions on unprocessed nuts and stimulating domestic production of cleaned pine nuts and their processed products.
The government plans to introduce an export duty of 25% or at least 80 euros per ton on pine nuts in shells from August 1, 2024. This rate is set to increase to 50% or at least 160 euros per ton from August 1, 2025. It is expected that this measure will promote domestic processing of pine nuts.
China remains the largest buyer of Russian pine nuts, accounting for over 80% of exports, followed by increasing exports to the US and the Czech Republic.
source: sfera.fm