Export duty on soybeans, rapeseed to replenish state budget by UAH 7.3 bln – author of bill
Ukrainian soybean and rapeseed processing plants are underutilized by 35%, if they are used, the state will receive an additional UAH 7.3 billion in revenues to the state budget in order to finance the Armed Forces of Ukraine, and an additional $238 million will ensure the construction of dozens of factories and the creation of thousands of new jobs, said Deputy Chairman of the Verkhovna Rada Committee on Economic Development Dmytro Kysylevsky.
"Stimulating the processing industry is a strategic goal of the state economic policy. The result of introducing an export duty on soybeans and rapeseed will be to encourage large traders not to export raw materials, but to build factories for their processing in Ukraine. Previously, similar steps were taken in the sunflower and roundwood markets, and as a result, Ukraine received very powerful industrial investments in these industries," he explained on Facebook the need to introduce a 10% duty on soybean and rapeseed exports.
According to him, this initiative is a continuation of a consistent economic policy. Ukrainian farmers have already faced the inability to export their crops due to the blockade of ports and the land border. Therefore, it is important to create conditions where it will be possible to send crops for processing in your own or neighboring community, and not to take risks due to an unpredictable situation with blockades at the border.
The MP emphasized that introducing a 10% duty on the export of raw materials will increase the export of processed products. Specifically, it will increase the export of rapeseed oil fourfold, the export of rapeseed meal more than threefold, the export of soybean oil by 50%, and the export of soybean meal nearly twofold.
He drew attention to the fact that in 2024, the soybean harvest in Ukraine amounted to 6.6 million tonnes, of which 54.5% was exported for processing abroad, and the rapeseed harvest - 3.7 million tonnes, of which 86.4% was exported abroad.