Assessment of the State and Prospects of Development of the Oil and Fat Industry of Ukraine

The article presents an analytical review of the development of the domestic oil and fat industry over the past decades. The growing role of the industry's products in Ukraine's exports and its place in the world economic community are noted. The main importers and exporters of oilseed products and sunflower seeds are studied. The author presents a number of problems and ways to solve them for the effective functioning of domestic enterprises in the oil and fat industry, in particular: - full-scale invasion, which led to the destruction of production facilities, port and transport infrastructure, as well as changes in traditional logistics chains and claims from foreign manufacturers; - lack of membership of Ukraine in international economic formations of a sectoral nature and insufficient number of bilateral economic relations within the framework of free trade agreements; - a number of countries perceive Ukraine as a supplier of cheap raw materials, subsequently processing Ukrainian products into products with higher added value - biodiesel, glycerin, etc., which indicates the need to transition from simple to deep processing of oil raw materials; - Ukraine's share in world exports is negatively decreasing due to the growth of sunflower oil exports from Russia, which occurs due to the improvement of its quality, price and growth in sunflower production; - change in crop growing technologies and moisture-saving agricultural equipment using high-quality seed material, justified crop rotations and fertilizers due to global changes in climatic conditions; - the need for state support for agricultural production for farms in the form of tax preferences and credit benefits for a qualitative and quantitative transition to higher yields of oilseeds; - an important factor in the development of the oil and fat industry can be intra-industry diversification of the production of various types of oilseeds. In general, according to the author, Ukraine remains a powerful player in the global oil and fat market, both in terms of processing and export, has prospects for development, but for this it is necessary to carry out certain transformations in both foreign and domestic policy regarding regulatory, organizational, technical and fiscal aspects.