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Exporters of Ukraine essentially reduced sunflower seed export volumes due to the problems with repayment of the value added tax, declared Stepan Kapshuk, the General Director of the association Ukrolyaprom.

The VAT-refunding issue has driven many up the wall in Ukraine. This concerns both a number of branches of the national economy and some business entities. What worries me is the agricultural sector. The very sector of Ukrainian economy that, for the past two years on the row, has been showing a positive trend in output growth, earning hard currencies for the coffers, as well as carrying half-Ukraine on its broad shoulders.

Sugar rebounded from a seven-month low on speculation that managers of hedge funds and index funds slowed sales after reducing their net-long positions, or bets prices would rise, to the lowest level of the year.

Ukraine exported 17 million metric tons of grain from July 1, 2009, the beginning of the current marketing year, and March 11 this year, practically the same amount as in the corresponding period in the previous marketing year, the Agriculture Ministry said Tuesday.