Business news from Ukraine

Business news from Ukraine

ACTUAL SELLING PRICE OF CRUDE OIL IN UKRAINE 0.5% UP

The actual selling price of crude oil and gas condensate used in determining royalty for subsoil use in August 2020 amounted to UAH 8,887 per tonne, which is 0.5% more than in July.
The relevant data are published on the website of the Ministry of Economic Development, Trade and Agriculture of Ukraine.
In January 2020, the actual selling price of oil and gas condensate amounted to UAH 11,114 per tonne, in February UAH 9,648 per tonne, in March UAH 5,913 per tonne, in April UAH 3,960 per tonne, in May UAH 6,199 per tonne, in June some UAH 8,115 per tonne and in July it was UAH 8,847 per tonne.

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SKYUP CARRIES 212,000 PASSENGERS IN AUGUST

SkyUp (Kyiv) airline in August 2020 carried 211,900 passengers, of which 166,800 by charter flight and 45,000 by regular flights.
The press service of the airline reported on Friday that in total, in August, 1,231 flights were performed under the domestic and international flight programs (926 charter flights and 305 regular flights). At the same time, 91.5% of flights were serviced in line with the schedule.
Some 214 domestic flights for the specified period were carried out. They were used by 31,100 passengers. The most popular destinations were: Odesa-Kyiv-Odesa, Zaporizhia-Kyiv-Zaporizhia and Odesa-Kharkiv.
In addition, SkyUp transported about 7 tonnes of cargo in August. All cargo was carried out by passenger flights in the baggage compartments.

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USDA DOWNGRADES FORECAST FOR OILSEEDS EXPORT FROM UKRAINE

The U.S. Department of Agriculture (USDA) downgraded the forecast for export of major oilseeds from Ukraine for the 2020/2021 marketing year (MY, September- August) by 250,000 tonnes compared to the August forecast, to 4.35 million tonnes.
According to a report on the website of the USDA, the forecast for sunflower oil exports for the 2020/2021 MY remained unchanged at the level of 6.96 million tonnes.
The U.S. department anticipates that oilseed processing will amount to 18.23 million tonnes in Ukraine, estimates being lowered by 200,000 tonnes compared to the forecast in August.
In September, the USDA downgraded the forecast for Ukraine’s sunflower harvest in 2020/2021 agri-year by 500,000 tonnes, to 17 million tonnes, sunflower meal production by 83,000 tonnes, to 6.94 million tonnes, and for sunflower oil by 86,000 tonnes, to 7.22 million tonnes.
In addition, the USDA in September maintained the forecast for Ukraine’s export of sunflower oil in the 2020/2021 MY at the level of 6.6 million tonnes, at the level of 5.2 million tonnes for sunflower meal, but lowered the forecast for sunflower export by 50,000 tonnes, to 150,000 tonnes.

EUROPEAN TRAVEL INSURANCE INSURES 63% FEWER TOURISTS IN SUMMER 2020 THAN ONE YEAR AGO

European Travel Insurance (ERV, Kyiv) in three summer months of 2020 insured 63% fewer tourists than a year ago, when over 612,000 tourists were insured, the insurance company has said in a press release.
The number of tourists insured by the company who traveled in Ukraine fell by 58% and those traveling abroad – by 64%. In June-August 2020, ERV insured more than 191,000 tourists who traveled abroad, and more than 35,000 tourists who traveled across the country.
“For the company, as well as for the entire tourism industry, the summer was difficult. It was unrealistic to make any plans in the ever-changing situation on the travel market. Although the borders opened and air traffic resumed early June, tourists are seriously scared by the sad experience of quarantine, they were not in a hurry to plunge into the world of travel again. During the summer, the tourism business learned to work in a pandemic, and tourists got used to traveling in new realities,” ERV said.
According to the company, in general, over the summer period, 1,873 insurance accidents were registered with tourists abroad for the amount of UAH 10,602 and 45 – with those traveling across the territory of Ukraine for a total of UAH 122,000.
If in June only 86 insurance accidents with tourists abroad were recorded, then in August their number increased to 1,417 for the amount of UAH 7.326 million. Of these, 908 cases occurred in Turkey (for comparison: in July, 360 insurance accidents were recorded abroad, 243 of them occurred with vacationers in Turkey, 215 cases occurred in Egypt, 121 accidents occurred with tourists in Bulgaria. Other insured accidents in August were reported with tourists in Croatia (51), Montenegro (31) and Albania (14).

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 14/09/20

National bank of Ukraine’s official rates as of 14/09/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF SEPTEMBER 14

Official rates of banking metals from national bank as of September 14

One troy ounce=31.10 grams

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