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In the current marketing year (MY, from September 2009), Ukraine will increase production volumes of sunflower oil by 20% – to the level of 3 mln tonnes, declared Stepan Kapshuk, the head of the association Ukroilprom, on February 18.
According to S.Kapshuk, the production volumes will exceed the domestic requirements of Ukraine in consumption of sunflower oil by 6 times, that is why, the export volumes from Ukraine in the current MY will possibly total 2.5 mln tonnes.
To date, the carry-over stocks of sunflower oil exceed the previous year level by 0.3 mln tonnes, and the price level forms rather stable rates. According to the head of the association Ukroilprom, any attempts of the government to limit the export volumes would become the mistake and damage the industry.
The growing debt of repayment of the value added tax (VAT), which exceeds the level of 1.7 mln UAH, according to data of the association, and the unwillingness to provide VAT remissions, while importing special industrial equipment for sunflower oil production, became the main problems of fat-and-oil producers in the country.
As a reminder, in 2008/09 MY, Ukraine produced the record volumes of sunflower oil at the level of 2.5 mln tonnes, and exported nearly 2.1 mln tonnes.
As of September 1, 2009, oilseeds processing capacities in the country totaled 8.25 mln tonnes per year.
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