Business news from Ukraine


8 September , 2021  

Exports of sunflower oil in the 2020/2021 marketing year (MY, September-August) decreased by 21% compared to the 2019/2020 MY, to 5.28 million tonnes, which amounted to 98.1% of the maximum volume agreed by the Ministry of Economy and the Ukroliyaprom association, such preliminary data are given on the website of the association.
According to the organization, the maximum export volumes of sunflower oil in the 2020/2021 MY are limited at 5.38 million tonnes. Thus, over the past MY, exporters could supply another 100,000 tonnes of this product to foreign markets, but did not take advantage of this opportunity.
Earlier it was reported that the Ministry of Economy in April 2021 signed a memorandum of understanding with exporters, limiting the export of sunflower oil in the 2020/2021 MY at 5.38 million tonnes to stabilize the domestic market, while previously the annual export was estimated at 5.52 million tonnes.
As an alternative to the memorandum, the Ministry of Economy proposed the introduction of quotas for the export of sunflower oil and meal, which was opposed by a number of Ukrainian specialized associations and public organizations, including Ukroliyaprom, the Ukrainian Grain Association, the Ukrainian Agrarian Confederation and the Ukrainian Agri Council.