Ministry for Development of Economy and Ukroliyaprom agreed limit volume of sunflower oil export from Ukraine

Source

APK-Inform

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Limit volume of sunflower oil export from Ukraine until the end of 2020/21 MY is set at 5.38 mln tonnes. This volume was written into the appendix to the Memorandum signed by the Ministry for Development of Economy, Trade and Agriculture and the Association Ukroliyaprom.

“We agreed the volume that would fully cover the internal demand for sunflower oil until the end of the season. Further we will adjust the figure stated in the appendix to the Memorandum given the development of the situation on the market. It is better option than the quotas and bans”, - the General Director of Ukroliyaprom, Stepan Kapshuk said to APK-Inform.

He said the compromise between the government and oilseed business should slightly calm down the market. However, the prices of sunflower oil will stay high, as the processors have bought sunflower seed at high prices.

“The signing of the Memorandum is a compromise as well as a confirmation of sufficient volume of sunflower oil on the domestic market. This volumes will increase. However, the producers will bear some financial losses”, - S.Kapshuk added.
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