Brexit Impact on Edible Oils Market

BEROE IMPACT ОF BREXIT ON EDIBLE OILS MARKET Sunflower Oil Likely scenario The current import tariff is 0% from the EU and Ukraine. Under a new trade deal, EU or UK may impose additional duties. CURRENTLY UK IMPORTS Possible outcome UK could buy more from countries such as Russia and Ukraine if duties imposed on imports from EU turn out to be relatively high. Overall impact: 24% from Netherlands 48% from 26% from Low Medium High Ukraine France Rapeseed Oil CURRENTLY UK IMPORTS Likely scenario The current import tariff is 0% from the EU. There is a possibility of additional trade duties. Possible outcome In case import tariffs from EU is higher, countries such as Russia, Canada and India could emerge as next best sourcing destination. Overall impact: 47% from Netherlands 17% from Germany 14% from ILow Medium IHigh France Palm Oil OO CURRENTLY UK IMPORTS 14% from Indonesia 64% from 5% from Papua New Guinea Malaysia Brexit may give way to new trade rules set by UK. Likely scenario Possible outcome Overall impact: The current import tariff is 0% for industrial uses and 3.8% for food applications. Trade may continue the same way. The impact of Brexit on palm oil will be ILow IMedium very minimal. IHigh