Edible oil exports, boosted by trade deregulation

Edible oil producers are expecting an increase in their exports aimed at the EU market in the wake of Romania’s having signed the protocol related to the complete deregulation of trade with such products, which stipulates the elimination of customs duties on imports of Romanian edible oil. “Exports of Romanian edible oil to markets such as Poland, Hungary and Austria will go up after customs duties are done away with, but, for the time being, this move has not been made because of parliamentary elections at the level of the EU. We are expecting the trade deregulation to be approved by the European Parliament in October at the latest,” says Viorel Zichil, chairman of the Oil Patronage. In the case of imports of Romanian edible oil, the EU had imposed customs duties ranging between 6.5% and 10%. Between September 2003 and the end of June 2004, Romania’s exports in this domain totalled 127 million euros. ZF