Uzbekistan to ease restrictions on vegetable oil exports

Oil refineries will be able to export a part of cotton and sunflower oil from imported seeds.

The Ministry of Economic Development has prepared a draft decree on “increasing the export activity of oilseed processing enterprises.

The document envisions lifting some of the restrictions on exports of vegetable oils from Uzbekistan. According to the preamble, this will improve the business environment for the oilseed processing industry.

Companies will be allowed to export oil pressed from imported sunflower and cotton seeds. At the same time, the volume of exported oil must not exceed 15% of the amount of seeds imported since September 1.

They will also be allowed to ship abroad up to 50% of their imported finished sunflower and vegetable oil. Restrictions on the export of other vegetable and fruit oils are expected to be completely lifted.

Discussion of the draft decree on the SOVAZ portal will continue until December 1.

Exports of cotton, sunflower and other vegetable oils have been suspended by presidential decree since June 1, 2022. The reason given was the need to meet domestic demand and stabilize prices.

In addition, the export of sunflower seeds and other oilseeds was banned. At the same time, it is allowed to export abroad products produced under the “processing in the customs zone” regime.

Tags: Uzbekistan, restrictions, cottonseed oil, sunflower oil, sunseed