News
01.07.2011
Ukraine: fate of the export duty on sunflower seeds
Since the moment of adoption of the export duty on sunflower seeds and to the present day, the issue of its reduction or cancellation was raised repeatedly, each time causing excitement among participants of the Ukrainian oilseed market.
In terms of the extensive development of fat-and-oil industry, protection of the domestic producers of sunflower oil was the aim of adoption of the export duty. In 2001, the export duty was reduced to the level of 17% (in October 1999 the Government adopted the export duty on sunflower seeds at the rate of 23% of the customs cost of export shipments).
Beginning from January 1, 2007, the rate of export duty on sunflower seeds annually decreased by 1% (up to 10% of customs cost). Since January 1, 2011, the index totals 11%.
On the eve of 2011/12 MY the issue of the export duties is one of the most important for the oilseed market of Ukraine. The opinions of representatives of government agencies, producers, crushers and exporters of sunflower seeds about practicability of the export duties still differ.
