In an effort to increase foreign currency income, the Government of Ukraine announced on 16th May that it has removed restrictions to export agricultural products that were put in place in the previous year to prevent food shortages. After the Russian invasion hit agricultural production, the nation introduced export licenses in 2022 to safeguard food supplies.
Removal Of Agricultural Export Barriers In Ukraine
After agricultural production was hit by Russia's invasion, the country implemented export licenses in 2022 to protect food supplies. While licensing did not prohibit exports, it did make them far more difficult.
For live cattle, frozen cattle meat, chicken meat, eggs, rye, oats, millet, and some other goods, the government announced that export licenses would no longer be required. The resolution, it was stated via the Telegram messaging service, would "help to optimize agricultural exports and increase foreign exchange earnings for Ukraine" and was created in response to numerous requests from associations.
Outcome
According to the government, the decision would not have an impact on domestic market supply. In addition to exporting grain and cereals, Ukraine is a significant producer of poultry meat. On May 2, the European Union imposed import restrictions on Ukrainian wheat, maize, rapeseed, and sunflower seed in order to relieve oversupply in Bulgaria, Hungary, Poland, Romania, and Slovakia. Last week, these states demanded that the curbs be extended.
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