Business news from Ukraine

Business news from Ukraine

Passenger flow through western border of Ukraine in April 2024, thousand

Passenger flow through western border of Ukraine in April 2024, thousand

Source: Open4Business.com.ua

Beleniuk wins bronze in Greco-Roman wrestling

Jean Beleniuk won a bronze medal in Greco-Roman wrestling in the 87 kg weight category at the 2024 Olympic Games in Paris.
The athlete defeated the representative of Poland Arkadiusz Kulinich – 3:1.
The fight was the last in Beleniuk’s sports career – he is the Olympic champion of 2020, silver medalist of the 2016 Olympics.
Now the Ukrainian Olympians have 10 medals at the Games in Paris (3+3+4).

 

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“Agro-Region has fully completed harvesting winter wheat and rape from 12 thousand hectares

Agro-Region has completed harvesting of winter crops from 12 thousand hectares, in particular, winter rape from 5 thousand hectares and winter wheat from 7 thousand hectares, the results of threshing exceeded the plan, the press service of the agro-holding reported on Facebook.

“The average yield of winter rape for the company amounted to 3.6 c/ha, which even exceeded the average yield of this crop for the last five years. Weather conditions allowed to get quality rape grain with minimal tillage, moisture and weed impurity in the base and meet the key contractual indicators”, – said the chief agronomist of the agricultural holding Yuri Lysak.

Speaking about winter wheat yield, he noted that the plan was also exceeded – by 10%.

“The average yield of winter wheat amounted to 6.6 tons/ha. At the same time, two clusters received yields of more than 7 tons/ha, the best result was shown by the Western cluster – 7.89 tons/ha,” Lysak added.

Winter wheat quality indicators (moisture content, gluten, protein and other parameters) are among the best in Agro-Region in recent years.

“73% of wheat is of second and third class. This is the result of proper selection of varieties and nutrition management,” stated the chief agronomist.

Agro-Region Agro Holding owns a land bank of 39 thousand hectares in Kyiv, Chernihiv, Zhitomir and Khmelnitsky regions. It specializes in crop production. It consists of 11 companies united in four crop production clusters. It has two elevators – Boryspil with a capacity of 73 thousand tons and Miropolskiy with a capacity of 52 thousand tons.

The annual harvest of grain and oilseeds of Agro-Region is up to 200 thousand tons.

Swedish company Lobiu Sala AB, owned by former Ukrainian Economy Minister Aivaras Abromavicius, in April 2021 received from the Antimonopoly Committee (AMCU) permission to purchase Swedish Agro Region Stockholm Holding, which manages Agro Region group of companies in Ukraine.

 

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Corteva Agriscience increased sales of corn and sunflower seeds by 20% and 9%, respectively

In the second quarter of 2024, Corteva Agriscience, an international agricultural research company, increased organic sales of Pioneer® corn and sunflower seeds by 20% and 9% year-on-year, said Oleksandr Dmytriyev, Head of Business at Corteva Agriscience in Ukraine, at a media club meeting in Kyiv.

According to him, organic sales of plant protection products in the second quarter of 2024 increased by 71% compared to the same period last year. At the same time, Corteva’s global organic sales and operating EBITDA increased by 2% to $6.2 billion and by 8% to $1.9 billion in Q2 2024 compared to the same period last year.

“Corteva works side by side with farmers, understands the difficult situation they have faced during the war, and is constantly looking for opportunities to support them in difficult times of war and help ensure the economy of Ukraine and food security of the world. During the 2023/2024 season, Corteva partnered with programs from the Howard G. Buffett Foundation and the Food and Agriculture Organization of the United Nations (FAO) to help farmers through the fall and spring planting campaigns. Together with financial institutions, we offer tools that provide special lending or subsidy terms, giving access to resources that are key to maintaining business profitability, and we are actively working with producers in the frontline areas of Sumy, Zaporizhzhia, Donetsk, Kherson, and other regions,” Dmitriev said.

Corteva Agriculture is a global agricultural company. It offers comprehensive solutions to maximize yields and profitability. It has more than 150 research facilities and more than 65 active ingredients in its portfolio.

The company’s presence in Ukraine includes the headquarters in Kyiv, a research center in Liubartsi village (Kyiv region) and a seed production complex in Stasi village (Poltava region).

In April 2022, the company decided to leave the Russian market due to the full-scale war against Ukraine unleashed by Russia.

 

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leaders of insurance market of Ukraine in terms of premiums collected are SG “TAS”, “Unica”, “ARKS”, “INGO” and “Ukrainian Insurance Group”

Leaders of the insurance market of Ukraine in terms of premiums collected in January-June 2024 were insurance companies SG “TAS” (UAH 2.057bn), “Unica” (UAH 2.033bn), “ARKS” (UAH 1.955bn), “INGO” (UAH 1.527bn) and “Ukrainian Insurance Group” (UAH 1.409bn), according to the website of NASU.

It is noted that compared to 5M. 2024, IC “Unica” rose from the third position to the second, and IC “ARKS” took its place.

In the top-5 in the market of compulsory insurance of civil liability by collected premiums there have been no changes and following the results of six months of this year the leaders are SG “TAS” (UAH 642,3 mln), “Oranta” (UAH 605,1 mln), “Knyazha VIG” (UAH 473 mln), “ROM” (UAH 304,1 mln) and “VUSO” (UAH 201,6 mln).

The leaders in the market of “Green Card” on collected premiums for the reporting period are “TAS” (UAH 628,3 mln), “USG” (UAH 303,1 mln), “Knyazha VIG” (UAH 317,6 mln), “ROM” (UAH 258,6 mln) and “Oranta” (UAH 173,2 mln) (earlier the fifth position was occupied by IC “INGO”).

There have been no changes in the CASCO market, it is headed, as before, by IC “ARKS” (UAH 1,040 billion), “Arsenal Insurance” (UAH 865 million), “Unica” (UAH 533,7 million), “VUSO” (UAH 448,6 million) and “USG” (UAH 417,6 million).

At the same time among the leaders in voluntary health insurance there have been slight changes in the leadership, as before the top 5 in this segment is headed by IC “Unica” (UAH 907,8 mln), IC “Universalna” has risen from the fourth position to the second (UAH 386 mln), followed by IC “INGO” (UAH 342,5 mln), “ARKS” (UAH 277,7 mln), “VUSO” (UAH 270,3 mln).

According to PRIMA data, there were no changes in the leaders of the life insurance market in the first half of 2024. As before, the first position is occupied by IC “MetLife” (UAH 1,275 bln), IC “TAS” (UAH 330 mln), “Grave Life” (UAH 257,7 mln), “Unica Life” (UAH 203,5 mln) and “ROM Life” (UAH 186,7 mln).

As reported, as of the end of June 2024, 78 risk insurers operate in the insurance market of Ukraine, 12 specialize in life insurance, one – with a special status (“Export Credit Agency”, ECA).

 

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Impact of electricity deficit on real GDP vs no deficit, % (forecast up to 2024)

Impact of electricity deficit on real GDP vs no deficit, % (forecast up to 2024)

Source: Open4Business.com.ua