Business news from Ukraine

Business news from Ukraine

US Embassy warned of threat of massive air strikes in Ukraine

The US Embassy in Ukraine has urged American citizens to exercise caution due to the threat of new massive strikes.

“Russia has intensified its missile and drone attacks against Ukraine in recent weeks, and there is now a persistent risk of significant air attacks. The US Embassy in Kyiv urges US citizens to exercise caution. As always, we recommend that you be prepared to take cover immediately in the event of an air raid siren,” the embassy said in a statement posted on its website on June 4.

41% of electricity meters replaced with smart meters in Kyiv — DTEK

Since the beginning of 2025, PJSC DTEK Kyiv Electric Grids has replaced almost 19,000 outdated meters with new smart meters in homes in the capital.

“The energy company is doing this at no additional cost as part of an investment program approved by the state regulator NEURC,” the company said on its website.

The company called the replacement of meters an important step in the large-scale digital transformation of Kyiv’s distribution network—customers will receive accurate electricity bills without having to submit their meter readings every month, and energy companies will be able to manage their networks more efficiently by analyzing the data received.

“Smart meters are a basic element of a modern technological network, allowing it to independently adapt to changes in demand and equipment status,” DTEK Kyiv Electric Grids said.

As explained by the company, a smart meter automatically records electricity consumption readings and transmits them to DTEK Kyiv Electric Grids in real time. This provides an accurate picture of consumption every hour, not only for individual apartments or houses, but also for entire neighborhoods and streets. At the same time, all information from the meters is aggregated and analyzed, which allows identifying peak periods and optimizing equipment operation, as well as forecasting consumption for early reinforcement of network sections.

The smart meter also allows remote diagnostics of the device status. In particular, distribution system operators can detect technical failures or damage without visiting the home or business, which significantly reduces response time.

Data from meters can be integrated with the SCADA energy infrastructure monitoring and remote control system. This allows dispatchers to see the actual consumption picture at all points of the network, automatically locate faults, and avoid emergency shutdowns.

DTEK Kyiv Electric Grids emphasized that the transition to the latest electricity metering devices is an important part of the “Network of the Future” infrastructure modernization project. It is planned that by 2034, all residents of Kyiv will have a smart meter in their homes.

“As of May 20, we have installed 18,969 smart meters for Kyiv residents, and in 2025 we plan to replace almost 47,000 old devices with new ones. Currently, 41% of customers in the capital have smart electricity meters,” said Denis Bondar, CEO of DTEK Kyiv Electric Grids.

Kyiv residents can find out whether their meters are scheduled to be replaced this year on the DTEK Kyiv Electric Grids website. The company explained that smart meters are primarily installed in buildings where the existing meters are reaching the end of their service life.

Ukrainian corn exports exceeded 2 mln tons in May

Corn exports from Ukraine in May 2025 reached over 2 million tons, becoming one of the highest figures in recent months, according to the analytical cooperative “Pusk,” created within the framework of the All-Ukrainian Agrarian Council.

According to analysts, at least 850,000 tons of corn have already been contracted for June, and this figure is not final. Total exports in June are expected to exceed 1 million tons.
“This indicates that traders have previously concluded contracts. Therefore, deliveries of the old crop are continuing quite actively,” experts noted.

At the same time, the situation on the export market is complicated by price pressure. Thus, the cost of American corn is currently held at $230 per ton, while prices for Ukrainian corn have risen to $256-260 per ton.

“In the current conditions, we cannot compete with American suppliers on the European market. Ukrainian corn is sold in small batches — 2-5 thousand tons — mainly to Greece and Cyprus. For comparison, the US exports only large volumes of 25 thousand tons,” analysts explained.

An additional factor is limited grain reserves: only 1-1.5 million tons of corn remain on the domestic market. This means that there are already very few volumes available for large-scale exports.

“We expect the market to become less liquid in June. Price benchmarks will gradually decline to around $215 per ton in ports. From the second half of the month, demand will decline significantly, and the market will begin to focus on the new harvest,” Pusk predicts.

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Ukrgasbank provided Kryvyi Rih with loan of UAH 500 mln for energy efficiency

The state-owned Ukrgasbank (Kyiv) has granted Kryvyi Rih a seven-year loan of UAH 500 million to implement an energy conservation program in the city.

According to a statement posted on the bank’s website on Wednesday, the city will modernize its infrastructure, reduce heat loss, and improve energy efficiency, which should lower heating costs for residents.

According to the first deputy mayor of Kryvyi Rih, Yevhen Udod, a joint project will be implemented in the city, which provides for the modernization of the heating networks of the Kryvorizhteplomerezha municipal enterprise, the replacement of windows in the entrances of 199 residential buildings, and the reconstruction of premises for a new X-ray department at Hospital No. 1.

As specified to Interfax-Ukraine, the loan will be issued for a term of seven years, but other terms of the loan have not been disclosed.
According to the National Bank of Ukraine, in April 2025, Ukrgasbank ranked fifth (UAH 220.0 billion or 5.9%) among 60 banks operating in the country in terms of total assets.

As reported, in the first quarter of this year, Ukrgasbank issued two loans to Kryvyi Rih for a total amount of UAH 105.5 million for a term of seven years with a grace period of 12 months. The interest rate on the loan of UAH 87.6 million is 14.5% per annum in the first year and, from the second year, a variable UIRD 12M +3% with annual review, but not exceeding 23%. The second loan of UAH 17.9 million is issued at an interest rate of 16% per annum for the first year, which from the second year is UIRD 12M + 3.62% with annual review, but also not exceeding 23%. It was explained that 3.62% is 16% minus the current UIRD 12M at 12.38%.

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Ukraine doubled dairy exports compared to imports

In 2024, Ukraine exported 118,000 tons of dairy products, which is almost twice as much as imports, which reached 60,000 tons, according to the infographic “Dairy Map of Ukraine” for 2024, prepared by the Association of Milk Producers (AMP).

“Despite military losses, targeted shelling and destruction, a forced new wave of closures and relocations of farms from war-torn regions, exhausting blackouts and record heat in June-September 2024, which caused more than 50% of industrial farms to experience a significant drop in milk yields, the Ukrainian dairy industry has demonstrated significant achievements,” the industry association said.

As of January 1, 2025, the number of cows in the industrial sector increased by 1% compared to the previous period. The top five regions in terms of industrial livestock numbers, which together account for 51% of the total industrial cow population in Ukraine, are Poltava (52,700 head), Cherkasy (44,000 head), Chernihiv (35,400 head), Kyiv (34,000 head), and Vinnytsia (31,500 head).

At the same time, the largest increase in the industrial cow population last year was recorded in Mykolaiv (+14%), Ternopil (+10%), Khmelnytskyi (+5%), Cherkasy (+4%), and Kyiv (+3%) regions.
At the same time, there were losses, primarily in the frontline regions, in particular in Zaporizhzhia (-88%), Kharkiv (-47%), Sumy and Chernivtsi (-22%), as well as in Chernihiv (-11%).

According to the AVM, last year more than 90% of raw milk sent for processing was obtained from industrial farms. The leading regions in terms of production were Poltava (445.2 thousand tons), Cherkasy (371.5 thousand tons), Chernihiv (268.3 thousand tons), Kyiv (266.5 thousand tons), and Vinnytsia (260.2 thousand tons).

The largest increase in raw milk production over the year was recorded in the Mykolaiv (+18%), Ternopil (+13%), Khmelnytskyi (+9%), and Zhytomyr and Poltava (+8%) regions. In contrast, a significant decline in production was recorded in the Zaporizhzhia (-87%), Kharkiv (-45%), and Sumy (-6%) regions.

Despite blackouts and abnormal heat in June-September 2024, which led to a 25% reduction in milk yields in more than half of farms, industrial dairy farms (MTF) showed record productivity growth last year. In particular, the average milk yield in the industrial sector reached 8,167 kg/cow per year, which is almost 20% higher than in pre-war 2021.

Analysts noted five regions with the highest productivity of industrial cows in 2024, including: Ternopil (9,905 kg/cow per year), Mykolaiv (9,189 kg/cow per year), Khmelnytskyi (8,817 kg/cow per year), Poltava (8,447 kg/cow per year), and Cherkasy (8,443 kg/cow per year).

In addition, milk quality indicators have improved, with 55% of milk delivered for processing being extra grade and 25.3% being premium grade.
As for the average consumption of dairy products in Ukraine, analysts noted a 4% increase in 2024 to 209.3 kg/person compared to previous and pre-war years. Thus, despite the full-scale invasion, emigration, and reduced purchasing power, Ukrainians maintain stable demand for dairy products.

At the same time, exports of dairy products last year amounted to 118,020 tons, with cash proceeds of $296.81 million (+16% compared to 2023 and +20% compared to 2021).
The top five export categories included dry and condensed milk (25%), cheese (18%), butter (16%), casein (14%), and ice cream (14%).

Last year, 60.27 thousand tons of dairy products worth $290.34 million were delivered to Ukraine, with cheese accounting for 78% of imports. In monetary terms, the value of deliveries increased by 10% by 2023 but decreased by 24% by 2021.

Ukraine maintained a positive foreign trade balance in dairy products last year, exporting almost twice as much as it imported (118 thousand tons against 60 thousand tons), with almost the same value ($296.81 million in exports against $290.34 million in imports).

“This indicates the high added value of imported goods (mainly cheese) and a larger volume of exports (e.g., milk powder, butter, casein),” analysts concluded.

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