News
03.03.2009
In the current MY, Ukraine to get the record indices of sunflower oil production and exports
The industrial group "Creative", one of the large-scale operators on Ukrainian fat-and-oil market considers that in the current marketing year Ukraine has all opportunities to produce and export the record volume of sunflower oil, declared the media-department of the company.
According to experts of the group, a high harvest of sunflower in the country at the level of 6.5 mln tons and favorable price situation on the world market will assist to such results.
According to the estimations of out agency, sunflower oil production in the current MY will total nearly 2.5 mln tons. It will allow securing the domestic consumption and keeping stable domestic prices for the product.
Taking into account that annually Ukraine consumes nearly 500-600 thsd tons of sunflower oil, we suppose that the export volumes in the current MY will total nearly 1.9 mln tons.
According to preliminary data, Ukraine has already exported nearly 950.000 tons of sunflower oil since the beginning of the current marketing year. The industrial group "Creative" hopes for keeping of the positive export dynamics in the future and expects that Ukraine will export the same sunflower oil volumes till the end of 2008/09 MY.
The fat-and-oil industry still shows the growing tendency and stability in the terms of the financial crisis. But the industry also has several problems, slowing development: the refund of the Value Added Tax to exporters of sunflower oil, permanent attempts of the government to cancel 13% export duties for sunflower seed and etc.
