Minus $200 million for growers and $1 billion for the country: six months of export duties on soybeans and rapeseed — ACC

Ukrainian growers have lost around $200 million due to the introduction of export duties on raw soybeans and rapeseed, representatives of the American Chamber of Commerce in Ukraine (ACC) said during a press breakfast on March 25.

According to these estimates, producers missed out on about $130 million due to lower domestic prices — they were forced to sell their products roughly 7% below global price levels. This has particularly affected small and medium-sized producers, who lack the capacity to export independently and are therefore compelled to work through intermediaries.

Another part of the losses is directly linked to the duty itself: about $50 million has effectively been redirected to the state budget.

“Overall, Ukrainian producers are losing around $200 million,” an ACC representative said.

In addition, foreign currency revenues from exports have declined. Over six months, they decreased by approximately $1 billion. The largest drops were recorded in rapeseed (down $400 million), soybeans (down $240 million), and sunflower (down $345 million).

“Those who lobbied for this law have effectively pushed us out of the EU rapeseed market, as we have become uncompetitive due to these export duties,” ACC representatives concluded during the event.