Business news from Ukraine

Business news from Ukraine

Sunflower shortage in Ukraine pushes prices to new records

The deficit in the sunflower market in Ukraine continues to push prices up, due to the decrease in production of this oilseed compared to last year, Ukrainian plants are experiencing a shortage of raw materials, according to the analytical cooperative “Start”, created within the framework of the All-Ukrainian Agrarian Council (AAC).

“The price of sunflower has already exceeded 23 thousand UAH/t, and according to the seasonal model, the average price may reach 24 thousand-24.5 thousand UAH/t at the end of October. This is due to the large number of contracts for oil due to the shortage of raw materials,” the analysts said, adding that the crushing plants failed to accumulate stocks, as it was before.

According to the experts, most of the oil processing plants buy sunflower and immediately send it for processing. Previously, processors had stocks for October-November, but now many companies do not have enough to cover even the current month. This leads to higher prices and fierce competition between plants trying to buy the required amount of sunflower.

Pusk predicts that given the current trends and seasonality in the market, we can expect new record prices that may exceed the historical highs recorded in 2020.

Active Group and Experts Club released study on private medical laboratories in Ukraine

About 7.7% of Ukrainians use the services of private medical laboratories five to 10 times a year, while 32.7% of Ukrainians use private laboratories less than five times a year.
This is according to a study conducted by the sociological company Active Group together with the Experts Club think tank.
According to the study, 34.8% of respondents visit private laboratories less than once a year, while 22.5% of Ukrainians do not visit them at all.
The top 10 most visited laboratories in Ukraine over the past two years include Synevo, which was visited by 39.5% of respondents, Dila (15.5%), Aesculab (9.3%), Invivo (6.1%), DniproLab (4.8%), Median (2.5%), Medlab (4.5%), DNA Laboratory (2.3%), Unimed (2.3%), and Nova Diagnostika (2%).
At the same time, 51.4% of respondents did not visit private medical laboratories at all.
When asked what aspects of private laboratories need to be improved, 69.8% of respondents said that it was the cost of services, 31.8% – the accuracy of results, 15.2% – the speed of service, 12.5% – the conditions in the laboratory, 11.8% – the politeness of the staff.
The survey was conducted in July by individual interviews. The study involved 600 respondents.
According to Andriy Yeremenko, founder of Active Group research company, the increase in the number of private medical laboratories in Ukraine indicates a systematic increase in demand for their services. At the same time, competition between laboratories has a positive impact on the quality and cost of analysis.
He predicts that the market will continue to develop in the future, making it easier to open new laboratories and improve existing ones. This, in turn, will increase competition, which will further reduce prices and improve the quality of medical services.
For his part, Maksim Urakin, founder of the Experts Club information and analytical center, emphasized that the study confirms the trend of increasing demand for private medical laboratories among Ukrainians.
“The survey data indicate an increase in confidence in the private medical sector and its capabilities. At the same time, the high level of competition in the market encourages laboratories to innovate, improve diagnostic accuracy and customer service. This trend is a positive signal for all market participants, as improving the quality of medical services and making them accessible to more people contributes to the overall improvement of the health of the Ukrainian population,” said the founder of Experts Club.

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CrossFit and eSports competitions “Veterans Games” start in Ukraine

The Ministry of Veterans Affairs of Ukraine is launching the Veterans Games sports competitions in cross-fit and e-sports.
“This year, they will be held in four regions of Ukraine and will end with the All-Ukrainian competition in Kyiv. Participants of the Veterans Games will compete in two disciplines: CrossFit and eSports,” the ministry said in a statement.
It is noted that servicemen, war veterans and persons discharged from military service, service in law enforcement agencies who were injured, wounded or ill during or as a result of their duties in the combat zone are invited to participate in the regional competitions.
The agency emphasizes that registration for participation in the competition is required at the following link: https://ee.kobotoolbox.org/x/RzJ0HpPS, it will last until October 27 (inclusive).
According to the report, the regional qualifying stages of the cross-fit competition will take place: November 2 (Kryvyi Rih), November 9 (Odesa), November 16 (Ivano-Frankivsk) and November 23 (Zhytomyr), and the all-Ukrainian competition will take place on December 8 in Kyiv.
The regional qualifying stage in esports will take place: Counter-Strike 2 (all over Ukraine online) on November 17, FIFA (all over Ukraine online) on November 17, and DOTA2 (all over Ukraine online) on November 24, with the all-Ukrainian competition taking place on December 6-7 in Kyiv.

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Nova plans to sell Nova Energy after war as non-core business

After the war is over and the energy supply situation improves, Nova Group will sell Nova Energy, a company created to develop generation, as a non-core business, said co-owner of Nova Group Volodymyr Popereshnyuk.
“…When the war is over… I will willingly sell this company to those for whom it is a passion, for whom it is the main business, the core business, because I believe that everyone should do their own thing,” Popereshnyuk said at the Energy of Business forum organized by Forbes.
He emphasized that Nova Energia is a non-core asset for NOVA Group, which the company is forced to deal with.
As of today, Nova Energia has already obtained most of the licenses, including the license to purchase fuel for refueling generators.
“Indeed, we opened Nova Energia not only because we need to produce electricity, but also because we need to refuel ourselves, because we had a fuel crisis that scared us, because we realized that if we don’t save ourselves, we may even stop, because fuel is critical for us… We have obtained a license for fuel to refuel our generators,” said Popereshnyuk.
He clarified that the market has long been subject to restrictions on the amount of one-time storage of fuel without a license.
According to him, Nova Energia already has about 4 thousand generators with a total capacity of 40 MW.
In addition, according to Popereshniuk, the company has ordered gas piston units and installed a number of solar power plants, and plans to install five more next year.

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More than 800 children of Ukrainian servicemen attended rehabilitation in Croatia – MFA of Ukraine

Minister for Foreign Affairs of Ukraine Andriy Sybiga met with Croatian Foreign Minister Gordan Grlic Radman in the framework of the Ukraine-South-Eastern Europe Summit, informed his Croatian counterpart about the situation on the battlefield and outlined Ukraine’s key defense needs.
“The Ukrainian Foreign Minister expressed his gratitude for the medical rehabilitation and recovery of Ukrainian defenders and their families in Croatia. This year alone, more than 800 children of Ukrainian servicemen have already been rehabilitated in Croatia. The ministers discussed the continuation and expansion of these programs,” the statement reads.
Sibiga also praised the solidarity of the Croatian side, in particular the leadership in assisting in the humanitarian demining of the territories liberated from occupation and the restoration of damaged energy infrastructure.
The Foreign Minister emphasized that Ukraine appreciates Croatia’s support for efforts to prevent the election of Russian representatives to the governing bodies of international organizations, including the Executive Council of the Organization for the Prohibition of Chemical Weapons. Sibiga also emphasized the importance of Croatia’s participation in the Ministerial Conference on the Human Dimension under the fourth point of Ukraine’s Peace Formula, “Release of all prisoners and deportees,” which is scheduled to take place in Canada in the near future.
In his turn, Grlić Radman emphasized Croatia’s readiness to continue to consistently support Ukraine in defending its sovereignty and territorial integrity.
The Croatian minister assured of the readiness of Zagreb to further assist Ukraine on its path to joining the EU and NATO.
The parties agreed that Croatia’s experience of joining the EU is important for Ukraine and discussed the provision of relevant expert support.

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IC “Express Insurance” increased payments by 61.6%

In January-September 2024, Express Insurance (Kyiv) made payments in the amount of UAH 379.2 million, which is 61.6% or UAH 143.8 million more than in the same period of 2023, according to the insurer’s website.
In particular, payments for hull insurance amounted to UAH 319 million (+55.5%), for MTPL – UAH 49.8 million (2.3 times more), for voluntary health insurance – UAH 4.5 million (-11.1%), payments under other insurance contracts – UAH 5.9 million (+65.2%).
At the same time, the company reports that in September 2024, payments to customers amounted to UAH 39 million (+35.9%) more than in September 2023. In particular, the company paid UAH 31.6 million (+28.9%) under hull insurance contracts and UAH 5.5 million (+58.4%) under MTPL contracts.
Express Insurance ALC was founded in 2008 and is part of the UkrAVTO group of companies. The company specializes in motor insurance. The consistently high speed of claims settlement in the IC is ensured by optimal interaction with partner service stations.
Since April 2012, Express Insurance has been an associate member of the Motor Transport Insurance Bureau of Ukraine.

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