The Cabinet of Ministers of Uzbekistan has adopted a resolution on measures to enhance the export potential of enterprises processing oilseeds. The resolution lifts restrictions on the export of vegetable and fruit oils, with the exception of sunflower and cottonseed oil, as well as mixed oils.
Additionally, limitations on the export of sunflower and vegetable oils, as well as sunflower seeds and other oilseeds, introduced since June 1, 2022, are partially removed.
Companies are now allowed to export abroad 50% of the imported ready-made sunflower, cotton, and mixed oils. They can also export oil produced from seeds they have imported, with specific proportions based on the volume of imports: 35% from sunflower seeds, 17% from cotton seeds and soybeans.
For instance, a company that imported 1000 tons of sunflower seeds can export 350 tons of sunflower oil produced from the imported raw materials (the average oil yield from sunflower seeds is 35%). These measures will take into account the volumes of imported oilseed crops brought in since January 1, 2024.
Vice Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov has been granted the authority to lift the 50% restriction on vegetable oil exports, taking into consideration the population's food security and price stability in the domestic market.
