EU changing agrofood market access policy, and Ukraine needs to adapt – Zhemoyda

The European Union is changing its agrofood market access policy in particular through the use of additional carbon-related mechanisms, declared Alexander Zhemoyda, Head of Department of multilateral and bilateral trade agreements at Ministry of Economy of Ukraine this on August 26 within a conference Soybean and Meal market.

He said that Ukraine, as one of the largest soybean producers in Europe, would have to adapt. However, it will raise the production cost and the price of the final product.

“When we are talking about the markets, either the EU that is accepting the Green Deal, or the US that is actively discussing it, or China that will form its approaches one way or another, we need to understand that Ukraine, as a supplier, will also face this issue soon. Therefore, we already need to adapt technologically, so that this rise in price will not be critical”, – A. Zhemoyda said.

He noted that there are several important problems on the domestic Ukrainian soybean market – reputation and customs.

“We talk a lot about China and Turkey, where we have already managed to gain our market share. However, we need to remember about the extension of our supply chains. I understand that the duty reduction gives an additional demand for our product, but I would like to extend this shipment distance”, – A. Zhemoyda added.

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