Ukraine: imposition of crude sun oil export duties to decrease its competitiveness
The initiative on the imposition of crude sun oil export duties will negatively influence on the Ukrainian fat-and-oil market and all its participants as well. Thus, the stated issue will decrease the competitiveness of Ukrainian oil on the global market, declared the Chairman of the Board of the “Creative” group, Yuri Davydov on May 13, 2014.
Y.Davydov stated along with the imposition of duties the producers will rise the oil export prices and the processors will overview the purchasing prices for sun seeds in order to fill up the insufficient volume of financial reserves. Thus, according to the market participants, the stated issue will influence on the farms, which will get lower prices for raw-materials and limited capabilities of companies-processors on the providing the farmer programs.
The Chairman added that the imposition of the export duties will negatively influence on the currency revenue inflow in Ukraine, which is necessary for UAH stability support.
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