The company “Ma’Rizhany Hemp Company” (Zhytomyr region) has commissioned a plant for processing industrial hemp with a capacity of 14,000 tons per year in the “Ma’Rizhany” industrial park, according to the Ministry of Economy.
“The development of domestic processing is one of the key tasks of the government’s “Made in Ukraine” policy and part of the national economic concept. We must change the structure of the economy from raw materials to high technology and increase the production of high value-added goods,” said First Deputy Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko during an introductory visit, as quoted in the report.
The plant will produce long fibers for textiles and technical fabrics (for export, with the prospect of processing within the country for the Ukrainian fashion industry); short fibers for paper, nonwoven materials, insulation, and straw will be used as raw materials for bioplastics, construction materials, and animal bedding.
According to a Facebook post by Dmytro Kysilevsky, deputy head of the parliamentary committee on economic development, who was present at the opening of the plant, the investment in the first phase of the project exceeded $20 million. The plant currently employs 200 people.
According to information from the company, cited by the Ministry of Economy, in the 1990s, the processing of bast crops in Ukraine virtually disappeared, and with it, the production of combed yarn. This made the textile industry dependent on imports and reduced its competitiveness.
To change the situation, in 2023, Ma’Rizhani Hemp Company began renovating the abandoned flax factory. In 2024, the company planted 890 hectares of industrial hemp, and in 2025, 1,200 hectares.
“This is the largest area under hemp cultivation in Central and Eastern Europe,” the report says.
Currently, the production area is 10,000 square meters, the warehouse area is 10,800 square meters, the construction and installation of equipment has been completed, and testing of raw materials and the production of the first samples has begun. As reported, IP “Ma’Rizhany” occupies about 30 hectares, the territory of a former flax processing plant. It will be the first park in Europe for the primary processing of bast crops. It was entered in the Register of IPs in August 2024. It is planned to create more than 700 jobs.
Following the signing of a cooperation agreement between Ukraine and the US in the field of mineral resources, the world community’s attention has been focused on Ukraine’s potential for rare earth element (REE) extraction. These elements are critical for modern technologies, including the production of electric vehicles, wind turbines, and defense equipment. However, experts caution against excessive optimism about the rapid realization of this potential.
Volodymyr Khaustov, scientific secretary of the State Institution “Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine,” honored economist of Ukraine, and candidate of technical sciences, shared his vision of the prospects for REE mining in Ukraine.
“Ukraine does indeed have certain reserves of rare earth elements, but most of them were explored during the Soviet era, and this data needs to be updated. In addition, a significant portion of potential deposits are located in areas currently under Russian control or near the combat zone,” Khaustov noted.
The expert also highlighted the technological and infrastructural challenges associated with the extraction and processing of REEs.
“Even if we can gain access to these deposits, the question of their economic viability arises. REE extraction is a complex and expensive process that requires modern technology and significant investment. At present, Ukraine does not have the necessary infrastructure for the full cycle of extraction and processing of these elements,” he explained.
It should be noted that, according to research, only one of the six known REE deposits in Ukraine — Novopoltavskoye in the Zaporizhzhia region — has confirmed reserves and is open for licensing. However, even this deposit requires an investment of about $300 million for full development.
In addition, the global REE processing market is currently dominated by China, which controls about 90% of the world’s capacity for the purification and processing of these elements. This creates additional challenges for countries seeking to develop their own REE production.
“For Ukraine to become competitive in the global REE market, it is necessary not only to develop deposits, but also to create a complete value chain — from extraction to processing and manufacturing of end products. This requires strategic planning, significant investment, and time,” Khaustov emphasized.
In conclusion, although Ukraine has potential in the field of rare earth element extraction, realizing this potential requires a comprehensive approach, significant resources, and time. Experts call for cautious optimism and strategic planning to achieve success in this industry.
For more details on the prospects for rare earth extraction in Ukraine, watch the video: https://www.youtube.com/watch?v=UHeBfpywpQc&t
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ECONOMY, EXPERT, EXPERTS CLUB, INDUSTRY, rare earth elements, rare earths, Volodymyr Khaustov
As of May 12, Ukraine had exported 37.064 million tons of grains and legumes since the beginning of the 2024-2025 marketing year (July-June), of which 1.796 million tons were shipped this month, according to the press service of the Ministry of Agrarian Policy and Food, citing data from the State Customs Service of Ukraine.
According to the report, as of May 17 last year, total shipments amounted to 44.214 million tons, including 2.856 million tons in May.
In terms of crops, since the beginning of the current season, 14.467 million tons of wheat (564,000 tons in May), 2.286 million tons of barley (19,000 tons), 10,800 tons of rye (0), corn – 19.755 million tons (1.206 million tons).
Total exports of Ukrainian flour since the beginning of the season as of May 16 are estimated at 61,000 tons (3,300 tons in May), including wheat flour – 57,600 tons (3,200 tons).
The Export Credit Agency (ECA) insured foreign economic contracts of 33 Ukrainian enterprises in January-April 2025, thus securing UAH 5.35 billion in future export revenues, according to the website of the Ministry of Economic Development and Trade.
It is emphasized that during the same period last year, the volume of supported exports amounted to 1.7 billion hryvnia.
“This growth indicates that businesses see the effectiveness of this protection tool. Insurance of export contracts has enabled manufacturers to reduce the risk of non-payment and gain access to bank financing. This helps companies scale up production and enter new markets,” said Deputy Minister of Economy of Ukraine Andriy Telyupa.
During this period, the most active exporters were companies from Lviv (UAH 1.37 billion), Khmelnytskyi (UAH 1.31 billion), and Volyn (UAH 1.12 billion) regions. Ukrainian companies exported furniture, food products, wood, wood products, and processed fruit and vegetables to Poland, the Netherlands, Lithuania, Estonia, the United Kingdom, and other countries.
The largest partners of the ECA among banks during this period were: Creditwest Bank – UAH 109 million in loans issued, Oschadbank – UAH 92.5 million, and Ukrgasbank – UAH 90 million.
The Export Credit Agency of Ukraine (ECA) is a state institution that supports non-raw material exports by insuring the risks of enterprises and banks. The agency insures foreign economic contracts, export credits, bank guarantees, and investment credits against military risks.
In wartime, the banking sector remains the main source of additional financing for Ukraine’s agribusiness, including for modernizing production, upgrading agricultural equipment, and developing processing. This was stated by Pavlo Guzyr, Head of Alternative Sales Channels, Agro Fabrika, OTP BANK JSC, during the international conference Black Sea Grain. Kyiv – 2025, organized by UkrAgroConsult.
The Bank’s expert took part in a panel discussion entitled “Hot corners and zigzags in the regulation of agricultural exports 2024-2026” together with Oksana Osmachko, Deputy Minister of Agrarian Policy and Food of Ukraine, Olena Voloshina, Head of the International Finance Corporation (IFC) in Ukraine, and representatives of the agricultural market.
“The banking sector undoubtedly occupies a leading position among sources of additional financing for the agricultural sector. According to the Ministry of Agrarian Policy and Food of Ukraine, last year banks financed Ukrainian agribusiness with UAH 100 billion. At the same time, 52% was issued by banks with foreign capital. As one of the leaders in financing agribusiness, OTP BANK offers a wide range of programs for business. We divide all our programs into two broad categories: working capital replenishment and investment lending. The first allows you to raise funds for current purposes, including the purchase of seeds, grain, and other agricultural raw materials for trading and processing, export and import operations, etc. Within this area, the Bank provides financing under the terms of the “Affordable Loans 5-7-9” program, standard financing rates in hryvnia and foreign currency, partner compensation programs, trade factoring, and documentary operations. The second area includes programs to attract financing for the renewal of agricultural machinery and freight transport, the modernization of elevator equipment, and the development of processing capacities. OTP Bank is also a leader among banks in financing agricultural producers under agricultural financial receipts. Currently, the Bank is actively involved in the introduction of a new financial instrument – agricultural notes, which are being implemented in Ukraine by the IFC with the support of the Swiss Confederation,” said P. Guzyr.
He added that Ukrainian farmers are increasingly interested in banking programs and are actively attracting loans for various purposes. In particular, OTP Bank is seeing growing interest from businesses in raising funds for energy-efficient solutions that ensure energy independence for enterprises. The bank is implementing a special program under which it provides loans to businesses for the installation of solar power plants, generators, cogeneration units, and other energy-efficient equipment. This program also provides up to 15% cashback from the amount of financing with the support of the European Bank for Reconstruction and Development.
At the same time, OTP BANK provides financing for up to 7 years to agricultural enterprises for the purchase of agricultural land. “Farmers are actively interested in this loan program. The Bank is currently considering several dozen requests from agricultural producers seeking financing for the purchase of agricultural land in various regions of Ukraine,” said P. Guzyr.
He noted that OTP BANK also participates in state programs to support the agricultural sector, in particular the “Made in Ukraine” program, which provides up to 25% compensation for the cost of agricultural equipment from domestic manufacturers. “This program is extremely popular among Ukrainian farmers. I think it should definitely be continued and expanded. “Made in Ukraine” is a successful example of state support for domestic producers, as it stimulates the production of both agricultural products and agricultural machinery and equipment,” emphasized P. Guzyr.
Read more about OTP BANK’s agribusiness financing programs in Pavlo Guzyr’s column for Agravery: https://agravery.com/uk/posts/author/show?slug=bankivske-kredituvanna-ak-osnovne-dzerelo-dla-zalucenna-dodatkovih-kostiv-v-agrosektor-v-umovah-vijni
Source: https://interfax.com.ua/news/press-release/1072303.html
On May 16, 2025, the first direct talks in more than three years between delegations from Ukraine and Russia began in Istanbul, aimed at finding ways to end the ongoing conflict.
The meeting is being held at the Dolmabahçe Palace, mediated by Turkey and attended by high-ranking US officials.
The Ukrainian delegation is led by Defense Minister Rustem Umerov. It also includes Deputy Foreign Minister Serhiy Kyslytsya, Deputy Head of the Security Service of Ukraine Oleksandr Polak, and other high-ranking representatives of law enforcement and diplomatic agencies.
The Russian side is represented by Presidential Aide Vladimir Medinsky. The delegation also includes Deputy Foreign Minister Mikhail Galuzin, Director of the Main Directorate of the General Staff (GUGS) Igor Kostyukov, and other officials.
Before the start of the bilateral talks, trilateral meetings were held: first between Turkey, the US, and Ukraine, and then between Turkey, Russia, and Ukraine. Turkish Foreign Minister Hakan Fidan and US Secretary of State Marco Rubio are also participating in the talks.
Reactions and expectations
Ukrainian President Volodymyr Zelensky expressed disappointment at the absence of Russian President Vladimir Putin from the talks, saying that the Russian delegation “has no authority to make decisions.” He stressed that Ukraine is committed to achieving a 30-day ceasefire, while Russia insists on broader negotiations, including issues of territorial concessions and renouncing NATO membership.
The United States and European countries support the initiative to establish a 30-day ceasefire. US President Donald Trump said that significant progress is only possible if he meets with President Putin in person.
International support
China has expressed support for direct talks between Russia and Ukraine, calling on all sides to reach a fair and lasting peace agreement.
Turkey, represented by President Recep Tayyip Erdogan, continues to play an active role in mediating between the parties to the conflict, providing a platform for talks and facilitating dialogue.
Despite low expectations, the start of negotiations in Istanbul is seen as an important step towards a possible peaceful settlement.
