According to the draft decree of the Government of the Russian Federation developed by the Federal Antimonopoly Service of Russia, Russian exporters of grain, sunflower oil and meal will have to provide the exchange with information on the interdependence or affiliation of the supplier and the buyer in the event of the conclusion of export OTC contracts. This is stated in the message of the FAS.
In addition, such requirements may be extended to exporters of wheat, meslin, barley, corn, mineral fertilizers containing phosphorus, nitrogen or potassium compounds.
The FAS proposes to oblige Russian exporters of sunflower meal to provide the exchange with information about the person who concluded an over-the-counter contract, about the manufacturer and buyer of the goods, about the quantity of the goods and its price, as well as the method of transportation when concluding over-the-counter contracts for this product.
The proposed changes will make it possible to form over-the-counter price indicators on the sunflower meal market, as well as more correct price indicators on the markets of white crystalline sugar, wheat, meslin, barley, corn, mineral fertilizers containing phosphorus, nitrogen or potassium compounds and sunflower oil.
According to the ministry, the formation of correct over-the-counter indicators in these markets will contribute to the development of market pricing. In addition, over-the-counter indicators on the sunflower meal market can be used to calculate the floating rate of export customs duty.
