The Ukrainian Parliament’s Committee on Agrarian and Land Policy has rejected the proposal to introduce a 10% export duty on soybeans and rapeseed, according to a statement by the Ukrainian Agri Council (UAC). This decision by the Agrarian Committee contradicts the stance of the Tax Committee, which had earlier advocated for the measure. The divergence in positions highlights the ongoing debates within the legislative body regarding the potential financial and economic impacts of the export duty.
While the Tax Committee argued that the export duty could generate significant revenue for the state, the Agrarian Committee raised concerns about the potential negative effects on Ukraine’s agricultural sector, particularly for farmers and export-oriented businesses. The rejection of the proposal suggests that lawmakers are seeking a more balanced approach, aiming to protect the interests of both the government and the agricultural industry.
Ukraine’s agricultural exports, including soybeans and rapeseed, play a crucial role in its economy, contributing to a significant portion of the country’s total export revenue. The decision to reject the export duty may be seen as an effort to maintain the competitiveness of Ukrainian agricultural products in global markets. This stance is likely to have broader implications for Ukraine’s trade policies and its relationships with international trading partners.