Since the beginning of the 2024/25 season, sugar factories-members of the National Association of Sugar Producers Ukrtsukor have produced 1.165 million tons of sugar as of November 21, the association’s press service reports.
“Ukrainian sugar factories have already accepted 9 million tons of sugar beet for processing, from which they produced 1.165 million tons of sugar, which is almost equal to the same date last year,” the statement said.
The industry association noted that in the season 2024/2025 MY sugar beet processing in Ukraine is carried out by 29 sugar factories, 28 of which are members of the association.
At the same time, Ukraine has almost completed the harvesting of sugar beet, which was harvested in the amount of 11.9 million tons from an area of 251.2 thousand hectares with an average yield of 47.6 tons per hectare.
As reported by Interfax-Ukraine, citing data from the Ukrtsukor association, 37 sugar factories operated in Ukraine in 2023. One plant in Kharkiv region, which is located in the de-occupied territory, was not ready to enter the processing season, as farmers in the region did not sow sugar beets.
On December 10, 2024, the International Finance Corporation (IFC) of the World Bank Group plans to consider a EUR55 million loan to Concern Galnaftogaz to finance the construction of a 147 MW wind farm in Volyn region and technical support.
According to the IFC website, the total cost of the project is estimated at EUR 235 million. The 16-year loan will be granted to Wind Power G.I. Volyn LLC and Wind Power G.I. Volyn 3 LLC.
As reported earlier, the European Bank for Reconstruction and Development (EBRD) plans to approve a EUR62 million long-term loan to the above-mentioned LLC on 4 December 2024 for the construction of a 147 MW wind farm in Volyn region.
The wind farm is expected to produce about 380 GWh (380 million kWh) of renewable electricity with zero carbon emissions annually.
In February 2024, the Antimonopoly Committee of Ukraine (AMCU) allowed GNG Retail Limited (Cyprus) to acquire more than 50% of the authorized capital of Wind Power G&I Volyn LLC and Wind Power G&I Volyn 3 LLC.
According to public registers, GNG Retail Limited owns 89.5% of the two LLCs, and JSC ZNVKIF Rimini (in which Vitaliy Antonov owns 83.19%) owns 10.5%.
OKKO CEO Vasyl Danyliak announced the start of work on the construction of a wind farm in Volyn region in the fall of 2024. He explained the group’s plans to work in the renewable energy sector by the need to diversify its business, as the fuel market no longer foresees growth.
“Galnaftogaz operates one of the largest networks of OKKO filling stations, which includes more than 400 complexes with a network of catering facilities. The group also includes other businesses.
Vitaly Antonov’s GNG Retail Limited owns 90.25% of Concern Galnaftogaz shares. In October 2024, Avalia Investments Limited (Cyprus) of the founder and chairman of Concorde Capital, Igor Mazepa, became the owner of another 7.35% of the shares.
State-owned Ukreximbank has raised the interest rate on its Eurobonds due November 14, 2029 from November 14, 2024 to 10.45% per annum, according to a stock exchange announcement by the issuer of these Eurobonds, Biz Finance Plc, on Wednesday.
According to it, the interest rate on the loan provided to the bank through the issuance of these Eurobonds has been raised to 11% per annum.
As reported, in November 2019, the bank, through Biz Finance, issued Eurobonds in the form of loan participation notes with a total nominal value of $100 million with a fixed coupon rate of 9.95% per annum and maturity in November 2029 with the possibility of early redemption in November 2024 solely for the purpose of financing the bank’s subordinated debt. Interest is payable semi-annually on May 14 and November 14.
According to Ukreximbank’s reporting, as of the middle of this year, its liabilities under the other Eurobonds issued in 2013, which finally mature on January 22, 2025, amounted to $40.566 million.
These Eurobonds, originally issued in the amount of $600 million and due in 2018, were reprofiled on July 9, 2015, with the following terms: coupon rate of 9.75% per annum; final maturity was extended by 7 years, i.e. to January 22, 2025. At the same time, 50% of the Eurobonds will be redeemed on January 22, 2021, and the remaining 50% of the bonds will be redeemed between July 22, 2021 and January 22, 2025 in eight equal semi-annual installments. In 2020 and 2022, the bank repurchased these bonds for a total amount of $238.006 million at par and canceled them.
Ukreximbank was established in 1992. The sole owner of the financial institution is the state.
According to the NBU, as of September 1, 2024, the bank ranked 3rd in terms of total assets with UAH 299.42 billion among 62 active banks. Its net profit in the first eight months of this year amounted to UAH 5.36 billion, which is 73.4% more than in the same period last year.
The Cabinet of Ministers of Ukraine has launched the Warm Winter program, which provides for the payment of a one-time financial assistance of UAH 6.5 thousand for each child from low-income families, Prime Minister Denys Shmyhal said.
“One of the priority areas is the protection of Ukrainian children, who should receive the safest, most comfortable and favorable conditions for life, education and development. The children’s component of the Winter Support includes a number of items. The first is the “Warm Winter” program: a one-time financial assistance for children to survive the winter period… Today we are adopting a resolution that launches this program,” Shmyhal said at a government meeting on Tuesday.
According to the Prime Minister, in December, every low-income family, as well as families of internally displaced persons who have children or adults with disabilities of group I, will receive UAH 6.5 thousand for each child.
“These funds will be used to buy warm clothes, shoes and other things needed in winter,” said Shmygal.
Ukraine exported 17.497 mln tonnes of grains and pulses since the beginning of 2024-2025 marketing year (MY) as of November 25, including 3.098 mln tonnes shipped in November, the press service of the Ministry of Agrarian Policy and Food reported, citing the data of the State Customs Service.
According to the report, as of November 27, 2023, the total shipments amounted to 12.693 mln tonnes, including 3.453 mln tonnes in November.
At the same time, in general, in 2024-2025 MY the exports of all major crops are significantly higher than last year. Thus, since the beginning of the current season, Ukraine has exported 8.629 mln tonnes of wheat (5.755 mln tonnes in 2023/24 MY), 1.86 mln tonnes of barley (870 thsd tonnes), 10.8 thsd tonnes of rye (0.9 thsd tonnes), and 6.689 mln tonnes of corn (5.936 mln tonnes).
The total export of Ukrainian flour since the beginning of the season as of November 25 is estimated at 30.1 thsd tonnes (in 2023/24 MY – 48.8 thsd tonnes), including 27.4 thsd tonnes of wheat (46.7 thsd tonnes).
The Spanish city of Palma de Mallorca hosted the opening of the Honorary Consulate of Ukraine in the Balearic Islands, the press service of the Spanish Embassy in Ukraine reports. During the event, a charity auction was held to support Ukrainian children affected by Russia’s armed aggression. UAH 8.4 million was raised for their needs.
The event was attended by state and cultural figures, representatives of local authorities, business, and the Ukrainian community.
Volodymyr Nosov was appointed Honorary Consul of Ukraine in the Balearic Islands, emphasizing that the newly created institution will respond to the requests of Ukrainian citizens and develop Ukrainian-Spanish relations in economic, cultural and humanitarian spheres.
“The Honorary Consulate of Ukraine will become a bridge of interaction between Ukraine and Spain in business, trade, technology and exchange of experience. We will be actively working in the cultural sphere, as well as supporting social and humanitarian initiatives aimed at helping Ukraine, paying special attention to children and youth. Our goal is to create favorable conditions for Ukrainian businesses seeking to enter the Spanish market and grow here. At the same time, we are ready to support Spanish companies wishing to develop business in Ukraine,” emphasized Vladimir Nosov.
A charity auction at the opening raised UAH 8.4 million to support Ukrainian children.
The Honorary Consulate will also provide consular services within its competence to Ukrainian citizens residing in the Balearic Islands. The institution will be open from Monday to Friday, from 9:00 to 17:00. For consultations, please contact the following phone numbers: +34 661 484 600, +38 075 10 21 730 and by e-mail: consulatepalma@gmail.com.
