Rapeseed prices fall following crude oil prices, but rapeseed prices in Ukraine are rising

Statements by Ukrainian officials about a quick settlement of the procedure for exporting rapeseed and soybeans without paying duties by producers led to farmers suspending sales and deliveries pending the government’s decision. This increased pressure on export prices as traders resumed purchases and planned new ships for rapeseed. Farmers’ doubts about the feasibility of exporting rapeseed and temporary (as customs officials explained) payment of duties were reinforced by the statement of the Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy D. Hetmantsev that duties paid for soybeans and rapeseed may not be returned to farmers. “Already UAH 200 million in duties from soybean and rapeseed exports have been received by the budget, and they should go to the needs of the army, and avoiding paying 10% of the duty with the help of dubious certificates is a blow to the country’s defense capability,” he said. Export demand prices for rapeseed in Ukraine ...