Bulgaria: Oil producers want the cheap Ukrainian sunflower

Published 2023년 4월 21일

Tridge summary

Bulgaria's oil producers are opposing a temporary government ban on sunflower imports from Ukraine, warning it could lead to economic implications, including bankruptcies, reduced GDP, business closures, and job losses. They argue that the country does not have sufficient local raw materials to meet the processing demands and that the ban could result in a sunflower oil shortage, price hikes, and increased inflation. Additionally, they fear that the ban could divert Ukrainian sunflowers to Western European markets, cutting into Bulgarian oil mills' traditional markets. The producers are proposing a solution that allows processing of Ukrainian sunflowers for export, to mitigate these potential negative effects.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Oil producers jumped against the temporary ban on the import of cheap sunflowers from Ukraine, which the government passed. They announced that they are threatened with bankruptcies and there will be negative consequences for the entire economy from this measure, which they call unacceptable. And in opposition to the grain producers and the Minister of Agriculture, they claim that we do not have such a large amount of raw material for processing in the huge capacities of our factories. "The temporary measures to limit the import of grain and oilseed crops from Ukraine will lead to the bankruptcy of processing companies in Bulgaria. Given the restrictions imposed this week by the Bulgarian government on the import of sunflowers from Ukraine and the discussions with the EC on cyclical preventive measures within the framework of EU, our concerns are that without a national position in relation to all affected sectors of the economy, unwanted and highly negative consequences for our ...

Source: Dnes