Ukraine may face the export duties for sunflower oil?

Source

APK-Inform

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According to experts of APK-Inform Agency, the average purchasing prices for sunflower seeds in Ukraine decreased by 150 UAH/t. Market participants attributed the fact to the possible imposition of export duties on sunflower oil from the country in the future. It is not excluded that the minimum duty may reach the level of 42 EUR/t.

The association Ukroliyaprom believes that the possible imposition of export duties on sunflower oil will have very negative consequences for the fat-and-oil industry of Ukraine. The export duties will stop the majority of enterprises of the fat-and-oil industry (especially small and medium ones), which will cause reduction of sunflower oil production by 50%. Thus, income to the state budget will be also reduced by 3.8 bln UAH.

The possible imposition of export duties for sunflower oil in the terms of absence of VAT refund to exporters will make unprofitable and uncompetitive production of the commodities in the country. As a result, Ukraine will cede leadership on the global market to its main competitor - Russia, which expects to increase production of sunflower to the level of 8.5 mln tonnes and sunflower oil production to 3.5 mln tonnes in 2011.

In the case of imposition of the customs duties, export volumes of sunflower oil from Ukraine will reduce from the level of 2.6 mln tonnes to 1.1-1.8 mln tonnes.

You can receive more detailed information about peculiarities of the state regulation of the fat-and-oil industry in Ukraine within the framework of the international conference "Fat-and-Oil Industry - 2011".

The topic will be discussed not only in the presentations of high-ranking conference participants, but also at the round-table discussion and press-conference. You can fill in the application form for participation in the conference today, in order to personally ask questions to the officials.

Fill in the application form for participation here.

More detailed information concerning participation is provided by Marketing Department of APK-Inform Agency: +380 562 320795, +7 495 7894419, e-mail: [email protected], [email protected]

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