Ukraine is #1 exporter of sunflower oil on the planet, Finance.ua reported. The country is also prominent in the export of soy oil.
Kings of sunflower oil
Ukraine has increased the export of sunflower oil by 16% in the first 7 months of 2019, having sold produce for USD 2.6 billion.
The export of soy oil had grown by 81%, according to the information provided by the ministry of agriculture.
This year crops are still growing in fields, with the experts predicting good results for 2019.
Sales of plant-derived oils to other countries are an important industry for the country. However, increased volumes of export created a number of logistical challenges for the railroads and ports.
Ukraine is famous for its rich productive soils, which cover about 72% of the territory of the country. However, there is a moratorium on sales of non-residential land, which in a great extent stalled the development in the sphere of agriculture.
As we reported previously, the new Ukrainian president Volodymyr Zelensky announced that the land market will be operational soon. The plan is to create the necessary legislative base and be open for business by mid-2020.
According to Vitaly Zhuravski, a member of the Ukrainian parliament and professor of law, the total land resources are valued at 3.5 trillion Euro. It is the size of Ukraine’s GDP for 40 years.
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