AreaUkraine

Commodity GroupOilseeds, oils and meals

CommoditySunflower oil, safflower oil, cottonseed oil

Date01/04/2021

Policy CategoryTrade

Policy InstrumentExport policies

DescriptionReached an agreement with the country’s vegetable oil industry to cap exports of sunflower, safflower and cottonseed oil in marketing year 2020/21 at 5.38 million tonnes, in an effort to stabilize domestic retail prices of edible oils.

NotesUKRAINE – market regulation: According to media reports, faced with criticism from the country’s sunflowerseed industry, the Government shelved plans to regulate domestic prices of sunflower oil. Similar to measures introduced in the Russian Federation (see above), the voluntary price agreements envisaged by the Government were meant to bring down local retail prices amid growing risks of food price inflation. Reportedly, the industry provided assurances that available edible oil supplies would be sufficient to meet domestic demand.