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The European Business Association (EBA) has called on Ukraine's Verkhovna Rada to back bill No. 15522, which would impose a temporary moratorium on export duties for seeds of certain oilseeds, notably soybeans and rapeseed.
The Association has repeatedly warned about the negative consequences of restricting exports of soybeans and rapeseed and stressed the need to reconsider the existing policy, according to the EBA press service.
'In the conditions of a full-scale war, farmers are already suffering significant financial losses due to the destruction and restriction of traditional sales channels, as well as the increase in the cost of fuel, fertilizers, and logistics. In the current conditions, grain crops are often unprofitable for producers, while oilseeds remain almost the main support for the profitability of crop production,' the association stated.
The business community believes that state policy should focus on preserving farmers' incomes and supporting their capacity to continue production under wartime conditions. The temporary lifting of export duties would enable farmers to secure higher prices for their output and maintain the competitiveness of Ukraine's agricultural sector.
'At the same time, unimpeded and competitive exports of agricultural products will contribute to maintaining currency inflows, supporting the economy and the state budget, strengthening Ukraine's positions in global markets, and ensuring global food security,' the experts noted.
The EBA is therefore calling for bill No. 15522 to be placed on the agenda of the next plenary session of the Verkhovna Rada and adopted in full as soon as possible. The business community believes that supporting the export potential of agriculture should remain a top priority of national economic policy both during and after the war.
Source: European Business Association (EBA)