Ukraine to impose 10% duty on soybean and rapeseed exports starting August 1

On July 16, the Verkhovna Rada of Ukraine supported in the second reading the draft law No. 13157, which includes the so-called “soybean-rapeseed” amendments. The draft law, which introduces a 10% export duty on soybeans and rapeseed, was passed with 245 votes in favor. Initially, the parliament rejected the amendments, which led to a blockade of the rostrum, but the vote was successful after the parliament resumed its work.

 

The second amendment to the draft law provides for the creation of a special fund to support agricultural producers, a compromise initiated by the Agricultural Committee. Both amendments were finally approved, which was a significant step in regulating oilseed exports. The law will come into force on the 1st day of the month following its adoption.