Business news from Ukraine

Business news from Ukraine

CHERKASY AZOT RAISES PRODUCTION OF NITROGEN FERTILIZERS

PJSC Azot (Cherkasy), part of Dmytro Firtash’s Group DF, in January-March 2020 increased production of nitrogen fertilizers by 22% compared to the same period in 2019, to 444,100 tonnes, according to a company press release.
Thus, the production volume of commercial ammonium nitrate amounted to 147,100 tonnes (21%), commercial urea some 168,600 tonnes (23%), urea-ammonia mixture some 126,100 tonnes (22%), and ammonia water to 2,300 tonnes. In addition, 216,300 tonnes of ammonia and 168,900 tonnes of non-concentrated nitric acid were produced.
Since the beginning of this year, all production facilities of Cherkasy Azot have been operating at 100% load. One of the factors contributing to the growth of production was weather conditions that allowed farmers to start field work much earlier, the report said.
“The company continues to work, despite the special conditions during the quarantine period, and fully fulfills all contracts, ensuring uninterrupted supplies of nitrogen fertilizers to agricultural producers,” Group DF’s press service said citing Vitaliy Skliarov, the chairman of the company’s board.
PJSC Cherkasy Azot is one of the largest Ukrainian chemical enterprises. It is engaged in production of mineral nitrogen fertilizers. Since 2011, it has been part of Ostchem Group (the Group DF nitrogen business).

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BRITISH-BASED FERREXPO, WHICH CONTROLS MINING ENTERPRISES IN UKRAINE, RAISES PELLET OUTPUT BY 7.4%

British-based Ferrexpo Plc, which controls Poltava and Yeristovo mining enterprises in Ukraine, increased the total production of pellets by 7.4% in January-March 2020 compared to the same period in 2019, to 2.725 million tonnes. According to the company’s press release on Tuesday, April 7, the total production of pellets with 65% iron content (Ferrexpo Premium Pellets and Ferrexpo Premium Pellets plus) amounted to 2.652 million tonnes (an increase of 9,1%), with 62% iron content (Ferrexpo Basic Pellets) some 73,330 tonnes (a decrease of 31.8%).
There was no pellet production from third party concentrate in Q1 2020.
Sales are expected to reach about 2.8 million tonnes in the first quarter 2020, compared to 2.6 million tonnes in the first quarter 2019 (an increase of 7.7%).
“Production in Q1 2020 was not impacted by the COVID-19 virus [disease]. Ferrexpo continues to take active measures to help protect our workforce and local communities against the spread of the virus,” the enterprise said in a press release.
In 2019, there was also no pellet production from third party concentrate, while in 2018 some 101,000 tonnes of pellets were produced.
Ferrexpo is a Swiss iron ore company with assets in Ukraine. Its core business is production and export of high quality iron ore pellets used in steel production.

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YUZHNY PORT FULFILLS MARCH FINANCIAL PLAN BY 224%

Yuzhny port’s fleet received more than UAH 24 million in income in March 2020, the enterprise’s press service has said.
According to Yuzhny, the figure obtained is 224% of the monthly financial plan. This result of the work was ensured by a large number of ship calls and fire-fighting services for cargo operations at berth No. 3H of Yuzhny port.
Earlier, the port reported that in March 2020 the company handled 1.777 million tonnes of cargo, which exceeds the previous absolute record for a monthly transshipment of 1.650 million tonnes in March 2014 by 127,200 tonnes.
Over the past month, the company accepted 25 vessels, 14 of which are vessels of the Capesize type. The number of large-capacity bulk carriers with a deadweight of more than 150,000 tonnes doubled compared to March 2019.
Darnitsa pharma company purchases hydroxychloroquine, awaits delivery to Ukraine
KYIV. April 8 (Interfax-Ukraine) – Darnitsa pharmaceutical company (Kyiv) purchased hydroxychloroquine for production of medicines and awaits its delivery to Ukraine, Board Chairman of Darnitsa Group Dmytro Shymkiv has said.
“We are already transporting the active substance, namely hydroxychloroquine, to Ukraine. We managed to reserve it for ourselves at a time when most countries closed the export of this substance,” he told Interfax-Ukraine.
Shymkiv said that Darnitsa pharmaceutical company is ready to produce hydroxychloroquine medicines, however, “the main precondition for this is active steps in regulatory matters from the Health Ministry,” he said.
Shymkiv said that Darnitsa specialists studied the experience of treating the coronavirus disease (COVID-19) in China, European countries and the United States, where patients infected with COVID-19 using medicines with hydroxychloroquine are treated as part of clinical trials. Moreover, a precondition for such therapy is the patient’s consent to treatment with the experimental medicine.
“Today, we expect the Health Ministry to follow the measures prescribed in the new laws on health protection and on medicines, which came into force on April 1, 2020. Then we can move on,” he said.
Darnitsa pharmaceutical company is one of the ten largest pharmaceutical manufacturers in Ukraine and the top ten largest hospital suppliers.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF APRIL 9

Official rates of banking metals from national bank as of April 9

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 09/04/20

National bank of Ukraine’s official rates as of 09/04/20

Source: National Bank of Ukraine

SPRING FIELD WORKS IN UKRAINE IN LINE WITH SCHEDULE

Economic advisor to the Ukrainian President Oleh Ustenko and representatives of the Ukrainian agricultural and chemical industries at a Tuesday meeting discussed the situation in agriculture during the spring sowing campaign and ways to achieve high harvest figures in Ukraine in the conditions of the emergency situation caused by the spread of the coronavirus disease (COVID-19).
President of the Ukrainian Agrarian Confederation Leonid Kozachenko said that now spring field work is in line with the schedule. Representatives of the agricultural sector said that many agricultural segments now need support from the state.
According to the president’s press service, Ukrainian president’s envoy for land affairs Roman Leschenko said that there are three key things that could be achieved for Ukrainian farmers this year.
“The first is that government support in the amount of UAH 4 billion is left, despite the budget outlay reduction plan. The second is the adoption of a basic land law, on the basis of which a series of regulatory legal acts will be adopted in the coming months that will restore order in land relations. The third is that the president of Ukraine is quickly responding to the situation with food security,” the press service said.
According to Leschenko, Ukraine has sufficient volumes to fully ensure its own grain consumption and the implementation of export contracts.