Uzbekistan: It is proposed to ease restrictions on the export of vegetable oil

Oil factories will be able to export part of the cottonseed and sunflower oil from imported seeds. The Ministry of Economy and Finance has prepared a draft resolution on “increasing the export activity of enterprises processing oilseeds.” The document proposes to lift some of the restrictions on the export of vegetable oils from Uzbekistan. According to the preamble, this will improve the business environment for the oil extraction industry. Companies will be allowed to export the oil they extract from imported sunflower and cotton seeds. At the same time, the volume of exported oil should not exceed 15% of the amount of seeds imported from September 1. They will also be allowed to supply abroad up to 50% of the finished sunflower and vegetable oil they import. Restrictions on the export of other vegetable and fruit oils are expected to be completely lifted. Discussion of the draft resolution on the SOVAZ portal will last until December 1. The export of cottonseed, sunflower and ...