KYIV, April 20 - The Ukrainian Grain Association (UGA) welcomes the signing of a memorandum on the ceiling volume of sunflower oil exports from Ukraine in the 2020/2021 marketing year (MY, September-August) at the level of 5.38 million tons, UGA said in a statement.

UGA said this market regulation technique is not perfect, but is much better than the introduction of direct restrictions, such as licensing or quotas.

The UGA said that the 10-year experience of signing a similar document in the grain market shows the effectiveness of this tool, which allows market participants to work calmly and know that no one will interfere in their work. Also, this tool allows international partners to form their export expectations and forecasts, and Ukraine - to maintain its reputation as a reliable trading partner in the world market.