Ukraine's government introduces sunflower oil price regulation
The Cabinet of Ministers of Ukraine included sunflower oil in the list of goods of significant social importance. Companies selling this product must now announce the increase in price in advance.
As per the government's order of 30 December 2021, information on price increases should be provided as follows:
- 15% or more price increase – 30 days before the introduction of the new price
- 10% or more, but less than 15% – 14 days
- 5% or more, but less than 10% – 3 days
The government also limited the mark-up on rye bread and loaf to no more than 10%.
A list of goods of significant social importance was adopted on 22 April 2020 for the quarantine period (order No. 341).
Previously reported that the Agrarian Ministry and foodstuffs producers associations signed a memorandum in an attempt of price stability maintaining. Sunflower oil is also included in the document.
Wheat export from Ukraine in 2021/22 was limited to 25.3 mln t. The Memorandum of Understanding was signed by the Agrarian Ministry and grain market participants. The government also considers milling wheat export from the country. The decision is reported to be taken in January.