Economy 2022-05-15T04:47:50+03:00
Ukrainian news
Wholesale Price For Sunflowerseed Oil Down 1%, Retail Price Up 4.5% A Month After Setting Maximum Export Volum

Wholesale Price For Sunflowerseed Oil Down 1%, Retail Price Up 4.5% A Month After Setting Maximum Export Volume For It

HELP UKRAINIAN NEWS
memorandum, price, export, sunflowerseed oil, sunflower

A month after the signing of a memorandum between the Ministry of Economic Development, Trade and Agriculture and market participants on setting the maximum volume of sunflowerseed oil exports in the 2020/2021 marketing year (September 2020 - August 2021), the wholesale price for it fell by 1% to UAH 51,500 per ton, and retail grew by 4.5% to UAH 66.7 per liter.

Svitlana Lytvyn, an analyst of the Ukrainian Club of Agrarian Business association (UCAB), announced this to Ukrainian News Agency.

"The price of sunflowerseed oil, as of May 24, 2021, over the last month on supermarket shelves increased by 4.5% to UAH 66.7 per liter. At the same time, the wholesale price for the same period decreased by 1% to UAH 51,500 per ton (offer, EXW)," she said.

At the same time, Lytvyn clarified that the price on supermarket shelves does not react quickly to a change in the wholesale price, besides, additional costs are provided for packing.

In turn, the Deputy Chairperson of the All-Ukrainian Agrarian Council Denys Marchuk said that the rise in oil prices is a global trend inherent not only in Ukraine.

“The prices for sunflower seeds have risen in the world and, accordingly, the price for the product made from it has risen. At the same time, the actions of our government to stabilize prices, to put it mildly, are wrong. Declaring its intention to introduce quotas on the export of oil and sunflower seeds, the Ministry of Economic Development only sowed panic among agrarians. It is categorically impossible to do this, because first of all it is illegal - the authorities have no right to restrict the right of an agrarian to dispose of his property, which is agricultural products," he commented.

Marchuk noted that at the moment, the export of oil was practically not limited, since the quota was set at 5.38 million tons, which is about 98% of the previously planned export volume.

However, according to him, the considered possibility of banning the export of sunflower seeds will not in any way affect the decline in the price of oil.

According to Marchuk, this will only lead to the fact that farmers will receive less money for their products.

He explained that if an agricultural producer does not have alternative sales markets for products, then domestic processors can dictate their price, unjustly underestimating it.

The All-Ukrainian Agrarian Council considers it more effective to reduce the value added tax (VAT) on socially important products.

As Ukrainian News Agency earlier reported, on April 19, the Ministry of Economic Development, Trade and Agriculture agreed with the oilseed market participants on the maximum volume of sunflowerseed oil exports in the amount of 5.38 million tons in the 2020/2021 marketing year.

Earlier, the European Business Association stated that the introduction of quotas for the export of sunflowerseed oil does not comply with the national legislation and international obligations of Ukraine within the framework of the World Trade Organization.

The Ukrainian Grain Association also believes that the idea of ​​the Cabinet of Ministers to restrict the export of sunflowerseed oil may lead to an even greater rise in prices.

Больше новостей о: memorandum price export sunflowerseed oil sunflower


News

ok