Uzbekistan has adopted a resolution on the mandatory sale of cotton, cottonseed oil and meal through the stock exchange

Cotton Seed

Cotton Seed Oil

Cotton Seed Meal

Uzbekistan

Published Nov 28, 2022

Tridge summary

From December 1, 2022 to January 1, 2024, in the domestic market of Uzbekistan, cotton seeds, cottonseed oil (including cottonseed oil), processed seed waste (meal, husks) and consumer ethyl alcohol are subject to sale exclusively through exchange trading. This is stated in the Decree of the President of the Republic of Uzbekistan dated November 24, 2022 No.

Original content

PP-430 “On expanding the use of exchange mechanisms in sectors of the economy and improving the system of regulation of exchange trading,” Norma.uz reports. It is clarified that we are talking about 100% of the volume of products produced by legal entities that are not monopolists, and (or) legal entities with a state share of less than 50%, or legal entities that do not have a state share. “At the same time, business entities put up for exchange auctions a part of these goods that exceeds the volume they use for their own needs,” the report says. This resolution is also being introduced in order to prevent a sharp increase in prices on the stock exchange, Norma.uz clarifies. According to the document, a system is being introduced to prevent a sharp increase in prices and the formation of an artificial deficit in the domestic market, which provides for control by the antimonopoly authority over the approval by economic entities of schedules for putting up for exchange auctions of ...

Source: Oilworld