BR100 Increased By (0.12%)
BR30 Increased By (0.28%)
KSE100 Increased By (0.26%)
KSE30 Increased By (0.26%)
AGHA 7.63 Increased By ▲ 0.04 (0.53%)
BECO 5.57 Increased By ▲ 0.06 (1.09%)
BML 59.74 Increased By ▲ 0.66 (1.12%)
BOP 34.40 Increased By ▲ 0.29 (0.85%)
CNERGY 13.11 Increased By ▲ 0.27 (2.1%)
CSIL 6.41 Increased By ▲ 0.31 (5.08%)
FCCL 58.06 Increased By ▲ 0.40 (0.69%)
FFL 16.23 Increased By ▲ 0.03 (0.19%)
FNEL 1.21 No Change ▼ 0.00 (0%)
KEL 7.43 Decreased By ▼ -0.05 (-0.67%)
KOSM 6.03 Increased By ▲ 0.09 (1.52%)
LOTCHEM 27.67 Decreased By ▼ -0.32 (-1.14%)
MLCF 102.75 Increased By ▲ 2.10 (2.09%)
NBP 205.06 Increased By ▲ 1.31 (0.64%)
NCPL 59.63 Decreased By ▼ -0.94 (-1.55%)
NPL 68.56 Decreased By ▼ -1.40 (-2%)
OGDC 318.92 Decreased By ▼ -1.37 (-0.43%)
PACE 11.05 Decreased By ▼ -0.05 (-0.45%)
PAEL 43.10 Decreased By ▼ -0.02 (-0.05%)
PIBTL 16.63 Increased By ▲ 0.07 (0.42%)
PPL 229.45 Increased By ▲ 0.61 (0.27%)
PRL 70.80 Decreased By ▼ -0.22 (-0.31%)
PTC 71.00 Decreased By ▼ -0.65 (-0.91%)
SSGC 27.41 Increased By ▲ 0.73 (2.74%)
TBL 10.31 Increased By ▲ 0.50 (5.1%)
TELE 8.53 Decreased By ▼ -0.08 (-0.93%)
TPL 23.06 Increased By ▲ 0.82 (3.69%)
TPLP 15.76 Increased By ▲ 0.65 (4.3%)
TREET 24.71 Increased By ▲ 0.58 (2.4%)
TRG 60.29 Increased By ▲ 0.45 (0.75%)
Markets

Ukraine farm minister opposes sunflower seed export ban

  • The economy ministry said this week it had proposed banning exports of sunflower seeds from May 15 to Sept. 30, even though volumes of seed exports have been tiny.
  • Ukraine this week limited sunoil exports to 5.38 million tonnes in the 2020/21 season in a bid to prevent a jump in sunoil prices on domestic market.
Published Updated
By

KYIV: Ukraine's agriculture minister Roman Leshchenko said on Friday he opposed proposals to introduce a ban on sunflower seed exports from Ukraine, a move initiated by the economy ministry.

The economy ministry said this week it had proposed banning exports of sunflower seeds from May 15 to Sept. 30, even though volumes of seed exports have been tiny.

Ukraine was a leading seed exporter more than 20 years ago but exports largely stopped after the country imposed a 23% duty in 1999. Ukraine sunflower oil production rocketed since then, making the country one of the world's leading sunoil exporters.

The agriculture ministry this week took back control of the farming sector after a decision to merge it with the economy ministry was reversed.

Ukraine this week limited sunoil exports to 5.38 million tonnes in the 2020/21 season in a bid to prevent a jump in sunoil prices on domestic market.

"The ban on sunflower (seed) exports is an illegal measure because according to current legislation, the reason for its introduction is a violation of market equilibrium, or deficit. However, there is no shortage of sunflower in Ukraine," Leshchenko said.

He said the ban could create conditions for anti-competitive actions.

The economy ministry said the ban could help avoid a jump in domestic sunflower oil prices. Leshechenko said this approach was based on "dangerous populism" and threatened the development of the sector without solving the problem.

Comments

Comments are closed for this article.