On May 13, the Council of the European Union decided to suspend import duties and quotas for Ukrainian exports to the EU for another year. As stated in the notification of the Council of the EU, the autonomous EU trade measures for Ukraine will be applied from June 6, 2024 to June 5, 2025 and will refer to the long-term suspension of all unpaid customs duties and quotas in accordance with Chapter IV of the Association Agreement between Ukraine and the EU.

Ukraine will remain the world's largest exporter of sunflower oil. The United States Department of Agriculture (USDA) forecasts an increase in sunflower production in Ukraine in 2024/25 compared to the current season.

Thus, the sunflower harvest is forecast at the level of 14,7 million tons, which is 200,000 tons more than the 2023/24 marketing year indicator. According to experts, oil exports will amount to 260 000 tons (-65 000 tons).

According to experts, 6,15 million tons (-170 thousand tons) of sunflower oil will be produced in Ukraine in 2024/25, of which 5,72 million tons (-80 thousand tons) will be exported.

Meal production will amount to 5,9 million tons (-165 thousand tons), and the export is planned at the level of 4,5 million tons (-200 thousand tons).

More details: http://surl.li/tqmku