Ukraine is the world's biggest exporter of sunflower oil, but the price of the product is much higher for Ukrainians than for those from other countries. RECOMMENDED SEAPORT of Ukraine reduced by a quarter the transshipment of vegetable oils Ukraine agrarian: what happens to the market of grains and oilseeds (16.08 - 20.08.2021) This opinion was expressed in Telegram by economist and former Finance Minister Igor Umansky. "Ukraine is the largest exporter of sunflower oil in the world. Last year we supplied 381,000 tonnes of the product to the border. Oil prices jumped from 30-35 hryvnias per bottle (0.8 litre) to 70 hryvnias per litre at the beginning of the year. For the next six months the government either did not react or pretended as if it was about to resolve the issue.

Meanwhile the cost of sunflower oil came close to the cost of common olive oil. It was only in August that the government announced that the cost of oil would drop by the end of the month. Do you know why? So there has been a change in world market prices," he wrote. According to him, world prices are coming to us with a huge delay for some reason. Thus, in July world prices for sunflower oil fell by 10%, but in Ukraine - only by 1.3%. "Thus, we find ourselves in a paradoxical situation where the price tags in the shops of the world's largest oil exporter are much higher than in the importing countries: Montenegro at €1.75, Moldova at €1.70 and Poland at €1.72. By comparison, in Ukraine it is 2.02 €," Umanskyy said. According to the former Minister of Finance, we must not forget that sunflower oil is not just a by-product which no kitchen can do without. Sunflower oil is an ingredient in the production of foodstuffs. It is used by catering establishments, school canteens, food suppliers to the military and many more. Therefore, the contribution of the cost of sunflower oil to overall inflation is enormous.

Source: Agravery.com

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