Ukraine: draft law to cancel the 10% duty on sunflower seed exports

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APK-Inform

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Andrei Vadaturskyy, People's Deputy of Ukraine (Poroshenko Bloc), registered the draft law "On amendments to the Law of Ukraine "On the rates of export duties on the certain types of seeds of oilseed crops", declared press-service of Petro Poroshenko Bloc on January 26.

According to the announcement, the draft law will cancel the current 10% export duties on sunflower seed. A.Vadaturskyy believes that realization of the law will help to ensure the competitiveness of oilseed producers on the international market.

According A.Vadaturskyy, to date the industry of sunflower seed production faces the situation when all producers are forced to sell their products to companies-monopolies, due to lack of competitiveness of their commodities on the world market after payment of the 10% export duties on sunflower seed. Therefore, the domestic price decreases and oilseed producers have significantly fewer opportunities for modernization and development, he added.

A.Vadaturskyy stressed that the present export duty is the factor which slows down the exports of sunflower seed and undermines the investment climate and economic potential of Ukraine. The need for its cancellation was also discussed within frames of negotiations between Ukraine and the EU Member States on establishment of the free trade area, said A.Vadaturskyy.

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