On January 16, 2020, the Verkhovna Rada (Parliament) of Ukraine passed in second reading the draft law No. 1210 abolishing so-called soybean-rapeseed amendments.
This implies all market participants will be eligible to receive VAT refunds for soybean and rapeseed exports.
In the opinion of UkrAgroConsult, this change will lead to an increase in domestic soybean prices as well as an expansion of this crop’s plantings. Our 2020 acreage forecasts were published on January 3, 2020 (“Black Sea Vegoils No. 1”).