Ukraine’s government has suspended the requirement for export licenses for corn and sunflower oil for the 2021/22 season, the government’s website said on Friday.
Ukraine has suspended exports of rye, oats, millet, buckwheat, salt, sugar, meat and livestock as it faces invasion by Russian military forces, and had introduced licenses for exports of wheat, corn and sunflower oil.
Agricultural officials said stocks of corn and sunflower oil are too high and there is no need to limit exports.
However, the market sees a billion-dollar loss in revenue from Ukraine’s grain exports as the blockade of its ports by Russian forces prevents it from shipping millions of tonnes of wheat and corn that had been destined for export until June, a spokesman said. industry representative.
A major producer of grains and oilseeds, Ukraine exports 98% of its cereals through ports and only a fraction by rail, where costs are higher.
Source: CNN Brasil
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