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Ukraine Implemented Restricted Sunflower Oil Export, Resulting in Loss of USD 3Bln Incomes

Pubtime:2021-05-03Author:Source: Hits:

UGA said the Ukrainian Government wished to implement zero export quota so as to restrict its sunflower oil export. UGA showed its concern about the news.

UGA believed if export restriction is  implemented, Ukraine will be unable to export sunflower oil before the end of this year, which may lead to loss of about USD3 billion income. Besides, Ukrainian farmers may plant other crops on the former cultivated land for sunflower seed. It will lead to serious shortage of sunflower seed for oil next year. The price of sunflower seed and sunflower seed oil may further rise, but export volume and income will reduce.