Ministry for Development of Economy of Ukraine confirmed the agreement on limit volume of sunflower oil export in 2020/21 MY

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APK-Inform

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The Ministry for Development of Economy, Trade and Agriculture of Ukraine has confirmed the information on the agreement on limit volume of sunflower oil export in 2020/21 MY.

“On April 19, the Minister for Development of Economy, Trade and Agriculture of Ukraine, Igor Petrashko and Association Ukroliyaprom signed the Memorandum on mutual understanding to provide predictable export of sunflower oil in 2020/21 MY”, - informs the press-service of the Ministry.

The parties agreed upon the limit volume of sunflower oil export in the current season at 5.38 mln tonnes. This volume was stated in the appendix to the Memorandum.

“We were holding an active dialog with producers and exporters of sunflower oil during the last weeks. There were different opinions but we have found a consensus suitable for both parties. The limit volume of sunflower oil export will calm down the domestic market and our consumers as well as will not affect our international obligations and we will preserve the leading position among exporters of sunflower oil”, - I.Petrashko commented.

Ukraine exported 3.52 mln tonnes of sunflower oil over 7 months of the current MY, official data says.

“The production of sunflower oil is forecasted to reach 5.92 mln tonnes in Ukraine in 2020/21 MY. Prior to the signing of the Memorandum, the export of the oil was expected at 5.52 mln tonnes. The domestic consumption totals 400 thsd tonnes in Ukraine”, - the press-service says.
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