Soybeans

The Cabinet of Ministers of Ukraine has adopted a resolution establishing a mechanism for monitoring soybean and rapeseed exports. The Ministry of Economy reported this. The document is aimed at “ensuring fair application” of the export duty exemption benefit for certain categories of agricultural producers. The new Procedure defines a monthly monitoring mechanism to be…

Export duties on soybeans and rapeseed were discussed during a meeting of the Ukraine-EU Association Committee in a trade warehouse.

The Ukrainian company planned to export soybeans by rail through the Vadul-Siret – Viksany checkpoint.

Ukrainian processors will limit soybean purchases if its supply increases sharply, as they have already purchased large volumes of sunflower at high prices.

The mechanism for preferential export of soybeans and rapeseed, which allows exporting products without a 10% duty, has been approved and is being finalized.

The Cabinet of Ministers has developed a mechanism that will allow farmers to export grown soybeans and rapeseed without paying export duty.

The company’s director intentionally failed to declare income from the purchase and sale of soybeans, which were to be exported from one of the ports of the Odesa region.

Ukrainian analysts believe that the abolition of duties on soybean and rapeseed exports creates even greater uncertainty in the market.

Farmers who agreed to pay the export duty on rapeseed are simultaneously collecting documents for claims for its reimbursement.

Soybean and rapeseed shipments were effectively blocked after the introduction of a 10% export duty.