Business news from Ukraine

Business news from Ukraine

Cattle slaughter in July increased by 63% compared to June – AVM

Cattle slaughter in July 2025 amounted to 14.8 thousand tons, which is 6 thousand tons more (+63%) than in June 2025 and 1 thousand tons more (+7%) than in July 2024, according to the Association of Milk Producers (AMP).

The industry association noted that in July 2025, enterprises produced 50% of beef from the total slaughter volume, and private farms produced 50%.

Cattle slaughter volumes in January-July 2025 amounted to 98.5 thousand tons, which is 4 thousand tons less (-4%) compared to the same period in 2024.

The AVM noted that in July, cattle slaughter volumes at agricultural enterprises amounted to 7.4 thousand tons, which is 1 thousand tons more (+16%) compared to June 2025 and 300 tons more (+4%) compared to July 2024. In January-July 2025, cattle slaughter volumes at agricultural enterprises amounted to 46 thousand tons, which is 1.3 thousand tons more (+3%) compared to the same period last year.

In private households, cattle slaughter volumes in July amounted to 7.4 thousand tons, which is 5 thousand tons more (+174%) than in June of this year and 700 tons more (+10%) than in July 2024. In January-July 2025, cattle slaughter in private households amounted to 52.5 thousand tons, which is 5.7 thousand tons less (-10%) than in the same period last year.

At the same time, the largest share (59%) of animals slaughtered was sold by agricultural enterprises in the Kyiv (35.8 thousand head), Poltava (24.6 thousand head), Cherkasy (18 thousand heads), Chernihiv (16.4 thousand heads), and Vinnytsia (14.9 thousand heads) regions.

 

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Cattle slaughter in July increased by 63% compared to June – AVM

Cattle slaughter in July 2025 amounted to 14.8 thousand tons, which is 6 thousand tons more (+63%) than in June 2025 and 1 thousand tons more (+7%) than in July 2024, according to the Association of Milk Producers (AMP).

The industry association noted that in July 2025, enterprises produced 50% of beef from the total slaughter volume, and private farms produced 50%.

Cattle slaughter volumes in January-July 2025 amounted to 98.5 thousand tons, which is 4 thousand tons less (-4%) compared to the same period in 2024.

The AVM noted that in July, cattle slaughter volumes at agricultural enterprises amounted to 7.4 thousand tons, which is 1 thousand tons more (+16%) compared to June 2025 and 300 tons more (+4%) compared to July 2024. In January-July 2025, cattle slaughter volumes at agricultural enterprises amounted to 46 thousand tons, which is 1.3 thousand tons more (+3%) compared to the same period last year.

In private households, cattle slaughter volumes in July amounted to 7.4 thousand tons, which is 5 thousand tons more (+174%) than in June of this year and 700 tons more (+10%) than in July 2024. In January-July 2025, cattle slaughter in private households amounted to 52.5 thousand tons, which is 5.7 thousand tons less (-10%) than in the same period last year.

At the same time, the largest share (59%) of animals slaughtered was sold by agricultural enterprises in the Kyiv (35.8 thousand head), Poltava (24.6 thousand head), Cherkasy (18 thousand heads), Chernihiv (16.4 thousand heads), and Vinnytsia (14.9 thousand heads) regions.

 

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Vietnam celebrates 80th anniversary of National Day (September 2)

On September 2, 2025, Vietnam will celebrate the 80th anniversary of its founding.

80 years is a special historical milestone for the entire country, the entire nation, and every Vietnamese person. It is not only a great national holiday, but also a symbol of the spirit of solidarity, patriotism, and unbreakable will of all generations of the Vietnamese people who sacrificed themselves and dedicated themselves to the independence and freedom of their homeland.

It was on September 2, 1945, in the historic Ba Dinh Square, that President Ho Chi Minh, the great leader of the Vietnamese people, read the “Declaration of Independence,” marking the beginning of the Democratic Republic of Vietnam, which is now the Socialist Republic of Vietnam. This event opened a new era in the history of the nation—an era of independence and freedom.

To achieve this historic moment, the entire Vietnamese people rose up unanimously and carried out the August Revolution, putting an end to 80 years of French colonial rule. However, the path to complete independence and reunification did not end there. Vietnam had to go through two more difficult wars of resistance against the French colonizers and American imperialists.

Inspired by President Ho Chi Minh’s call that “nothing is more precious than independence and freedom,” the Vietnamese people fought with unwavering courage, enduring incredible hardships, losses, and sacrifices, and finally, in 1975, gained independence, freedom, and reunited the country.

From a besieged and isolated country, backward and severely devastated by 30 years of war against foreign invaders, Vietnam has transformed itself into a state with a rapidly growing economy, ranking among the top 35 economies in terms of GDP and among the top 20 economies in the world in terms of trade.

Vietnam pursues an independent and autonomous foreign policy aimed at maintaining peace, cooperation, and development, adheres to the principles of multilateralism and diversity, and strives to be a friend, reliable partner, and responsible member of the international community.

In terms of national defense, Vietnam has established regular, elite, and gradually modernized armed forces and adheres to a policy of “four no’s” (no military alliances, no foreign bases, no collusion with one country against another, and no use or threat of force).

Vietnam currently has diplomatic relations with 194 countries around the world and attaches great importance to developing friendly and mutually beneficial relations with all its traditional friends, among which Ukraine occupies a special place.

For many years, Vietnam and Ukraine have maintained comprehensive partnership and cooperation in various fields, from economics and trade to science, technology, culture, and humanitarian exchanges.

Many generations of Vietnamese have studied and worked in Ukraine. Many of them now hold important positions in government agencies, and some are successful businesspeople. For example, Vietnam’s first billionaire, Pham Nhat Vuong, earned his first money while living in Kharkiv in the early 1990s, when he launched the instant noodle brand “Mivina.”

Many Ukrainian specialists and engineers also came to Vietnam to help the country with its post-war reconstruction.

Thousands of Vietnamese chose Ukraine as their second home and stayed here after studying and working.

Despite the challenges posed by the war, bilateral trade remains stable: in the first half of 2025, bilateral trade grew by 30% compared to the same period in 2024, increasing from $430 million to $560 million.

Looking ahead, as confirmed by Vietnamese President Le Quang in his congratulatory message to President Zelensky on the occasion of the 34th anniversary of Ukraine’s independence, Vietnam is ready to further strengthen cooperation with Ukraine in various fields, from trade and economy to science, technology, and culture, in the interests of the peoples of both countries.

https://www.facebook.com/UkrDiplomatic

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If hostilities end, Ukraine’s passive fire protection market could grow 2.5 times by 2026

If hostilities end in 2025, Ukraine’s passive fire protection market could grow approximately 2.5 times from 2026 to around $25 million, according to Kovlar Group, a manufacturer of passive fire protection products.

According to the company’s experts, based on the preliminary results of the Ukraine Recovery Conference 2025 (Rome) and taking into account the priority tasks for reconstruction, a change in the segmentation of the passive fire protection market by type of material is expected. Intumescent coatings for steel will account for the largest share — 35-40%, fire-resistant plasters and slabs — 20-25%, sealing systems for penetrations and protection of engineering communications — 25-30%, materials for wood protection — up to 10%, and ventilation and smoke ducts — 5-10%. There is also a forecast for growth in demand for epoxy and polyurethane fire protection systems for oil and gas infrastructure, energy, and strategic facilities, which was previously limited by the high cost of imported analogues.

Konstantin Kalafat, director of Kovlar Group, emphasized that domestic manufacturers have sufficient capacity to ensure large-scale reconstruction of the country’s infrastructure in the post-war period. In particular, Kovlar Group LLC prioritizes the restoration of the energy sector, where the speed of work, availability of materials, and increased fire safety requirements are crucial.

“The use of Ammokote products ensures the efficiency of fire protection work — our own production reduces logistics times and allows us to quickly deliver large volumes. Local production reduces the cost compared to imported analogues, which is especially important for large-scale restoration projects,” said Konstantin Kalafat, director of the company.

An important factor for reconstruction is the implementation in Ukraine of the law “On the Provision of Construction Products on the Market,” which implements the provisions of Regulation (EC) No. 305/2011 and is expected to increase the competitiveness of the Ukrainian fire protection segment in comparison with European products. According to Konstantin Kalafat, Ukrainian manufacturers of fire protection products should actively implement manufacturing and product control technologies in accordance with advanced European standards.

A critically important area of the company’s activity is fire protection of cable lines at energy facilities, where fire safety is a prerequisite for the reliable and uninterrupted operation of power generation, substations, and networks. Kovlar Group offers comprehensive solutions for cable protection: fire-retardant paints, plasters, three types of systems for penetrations, as well as special couplings, seals, and sealants. In the first half of 2025, the company developed Ammokote TOP-W, a universal finishing material for cable communication fire protection systems; certification of Ammokote EP epoxy fire-retardant paint is ongoing.

“The company adheres to transparent competitive procedures and is ready to work within the framework of open tenders, cooperate with government agencies, contractors, and project teams for prompt, safe, and economically sound reconstruction,” emphasized Konstantin Kalafat.

Kovlar Group LLC was founded in 2015 in Kyiv and is the largest manufacturer of passive fire protection products in Ukraine. According to OpenDataBot, the company’s authorized capital is UAH 1.2 million, and its ultimate beneficiaries are Kostyantyn Kalafat (40%), Andriy Ozeychuk (35%), and Lyubov Vakhitova (25%). The company’s revenue for 2024 was UAH 91.3705 million, which is twice as much as in 2023, and its net profit was UAH 13.4 million, which is 1.7 times more than in 2023. In the first quarter of 2025, the company’s revenue was UAH 13.5 million, with a net income of UAH 1,983,000.

Source: https://interfax.com.ua/news/economic/1101227.html

 

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Almeida Group leased Bogdanivets Agricultural Processing Plant and added 92,000 tons of grain storage capacity

As part of a public-private partnership program, trading company Almeida Group LLC has signed a long-term lease agreement for the Bogdanivets Grain Processing Plant (Khmelnytskyi region) and increased its storage capacity by 92,000 tons, according to company director Maksym Volchenko.

“Thanks to the implementation of this project, Almeida Group has already exceeded its simultaneous storage capacity figures that were in place before the full-scale invasion,” he wrote on Facebook.

According to Volchenko, the Bohdanivets Bread Products Plant property complex includes an elevator with a total storage capacity of 92,000 tons, four independent grain receiving points from motor vehicles with a capacity of 3,000 tons per day, two grain drying complexes, a laboratory certified for all crops, railway infrastructure, and a mill with a capacity of 120 tons per day.

During August 2025, Almeida Group LLC carried out pre-season repairs and calibration of all equipment at the elevator complex, assembled a highly qualified team of company specialists, resolved a number of issues related to railway infrastructure, repaired a diesel locomotive, and restored access to the railway.

“As a result of this partnership, the Almeida Group has further increased its presence in the region in the elevator, trading, and logistics sectors, as well as gained another foothold for creating supply chains from producers to European and other export markets,” said the head of the enterprise.

Volchenko added that local producers now have the opportunity to order storage, laboratory control, and logistics services for the export of agricultural products with a full delivery cycle to ports or to European Union countries by land and water at rates that are attractive to agricultural producers.

Almeida Group LLC was registered in 2008. It specializes in the purchase and wholesale of grain crops and international transport and logistics services. It has six regional offices with its head office in Kyiv: in Kharkiv, Chernihiv, Chernivtsi, Uzhhorod, and Lviv.

Before the war, the company used a transshipment hub-elevator in Severodonetsk (Luhansk region). It has now been destroyed. In 2022, Almeida Group built a transshipment complex on the border with the EU at the Vadul-Siret station and resumed trading in grain crops.

In 2023, it built similar transshipment complexes at the Chop station (Zakarpattia region) and the Mostyska station (Lviv region). In 2025, the company took over the management of the Rozdorsky elevator from the G.R.Agro group.

In 2024, the USAID Economic Support to Ukraine Project purchased and transferred 25 new grain cars to Almeida Group LLC to increase agricultural exports.

The beneficiaries of Almeida Group are Mikhail Kudukhashvili and the owner of Levada Agricultural Production Cooperative, Maxim Volchenko.

 

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Analytical review of hryvnia dynamics against leading currencies from KYT Group

Issue #2 – August 2025

The purpose of this review is to provide an analysis of the current situation on the Ukrainian foreign exchange market and a forecast of the hryvnia exchange rate against key currencies based on the latest data. We analyze current conditions, market dynamics, key influencing factors, and likely scenarios.

Analysis of the current situation on the Ukrainian currency market

In the second half of August, a number of important signals from global markets confirmed that the hryvnia exchange rate increasingly depends not on local factors but on international news and the state of the world’s leading economies and the decisions of their central banks.

Domestic factors remain rather short-term impulses, capable of producing slight spikes but not changing the overall trajectory.

International context

In the United States, July data showed a slowdown in inflation and a cooling of the labor market. This took some pressure off the dollar and increased expectations that the Federal Reserve could cut rates as early as September. The Fed chairman explicitly acknowledged that the policy will have to be reviewed in order not to “overstretch” the economy. As a result, the dollar weakened slightly, and stock markets got a chance for additional optimism.

Given the expectations of the Fed’s actions regarding rate revisions, different scenarios should be considered for key currency pairs.

If the Fed cuts rates in September:

  • EUR/USD: the euro will get an upward push, and the market may reach 1.19-1.20.
  • USD/UAH: The dollar in Ukraine will weaken to the lower end of the range, around 41.20-41.40 UAH/$.
  • EUR/UAH: The euro’s rise against the dollar will also pull up the hryvnia, with a possible move toward 49.00-49.20 UAH/€.

If the Fed leaves the rate unchanged:

  • EUR/USD: the dollar will retain its advantage, and the pair may drop back to 1.14-1.15.
  • USD/UAH: The dollar in Ukraine will remain close to the middle or upper limit of the forecast corridor – 41.70-42.00 UAH/$.
  • EUR/UAH: The euro will be under pressure and is likely to fluctuate in the range of 48.20-48.60 UAH/€, with no clear upward trend.

The European economy looks sluggish: growth is almost imperceptible, inflation is stable at 2%, and there are no new drivers for the euro. This keeps the currency in a neutral mode – no reason for a breakthrough, but also no prerequisites for a sharp fall.

The UK was the first major economy to cut its interest rate. This signaled to the world that the period of tight monetary policy is coming to an end. If the United States confirms a similar move, the yield differential between currencies will decrease, and the dollar will lose some of its advantage.

Oil and gas prices remained relatively calm in August. This means that there is no additional pressure on the US and European economies due to energy. This is even more of a disadvantage for the euro, as the argument for a tighter ECB policy disappears.

In general, the international backdrop looks like this: The dollar has temporarily lost some of its support, and the euro is hovering on the sidelines.

For the hryvnia, this means relatively stable conditions.

Domestic Ukrainian context

The NBU’s reserves remain high, even after significant interventions and external debt repayments. This creates a safety margin to smooth out exchange rate fluctuations.

In July, inflation eased to 14.1% year-on-year, and the monthly figure showed deflation for the first time in two years. This calmed the market and reduced the “insurance premium” in prices.

External support is coming in as planned: at the end of August, the next tranche of more than €3 billion under the Ukraine Facility program and €1 billion from the proceeds of frozen Russian assets under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative were disbursed. This is an important stabilizing factor for both the budget and the FX market.

The NBU has also taken steps to liberalize the currency by allowing the repatriation of dividends and expanding hedging instruments. This creates a more predictable environment for business without putting any additional pressure on the exchange rate.

In general, the Ukrainian FX market is entering September in a calm mode: reserves are sufficient, inflation has cooled, and external funds are coming in at the right level.

Internal factors are rather short-term spikes, but the exchange rate will be determined by statements, events, and decisions from Washington and Brussels.

US dollar exchange rate: dynamics and analysis

The general characteristic of market behavior is a smooth decline without sharp impulses

August confirmed the trend of gradual depreciation of the dollar against the hryvnia.

  • On a monthly basis, all indicators showed a smooth slide: the buying rate dropped from ~41.45 to 41.05 UAH/$, the selling rate from almost 42.00 to 41.60 UAH/$, and the official NBU rate from 41.73 to 41.26 UAH/$.
  • On a weekly basis, the market stabilized at the low end of the range: after a brief rebound on August 26-27, quotes returned to a steady decline, with no signs of a new trend toward hryvnia appreciation or depreciation.
  • The bid-ask spread has remained steady in a narrow range of UAH 0.40-0.50, and market rates remain equidistant from the official rate. This indicates a lack of nervousness and support for the “exchange rate consensus” between the market and the regulator.

Domestic demand remains restrained: importers are working as planned, households are mainly focused on the euro, and the NBU is keeping the exchange rate in balance without any sudden movements.

Key influencing factors:

  • International background: markets are waiting for the Fed’s decision in September, so the dollar is globally “paused”. This reduces volatility in Ukraine as well.
  • NBU reserves: remain sufficient to smooth out fluctuations.
  • Supply/demand: There are no signs of abnormal import or consumer waves, so dollar liquidity in the market is balanced.
  • Behavioral factor: the population does not create a rush demand for the dollar, which additionally keeps this segment of the FX market stable.

Forecast:

  • Short-term (1-2 weeks): the basic range is 41.20-41.70 UAH/$. The market is unlikely to go below 41.00 without a strong external signal.
  • Medium-term (2-3 months): 41.50-42.20 UAH/$. The Fed’s likely September decision could set the momentum in either direction: if the rate is cut, the hryvnia could strengthen in the short term and the dollar could fall to the lower boundary; if it is maintained, quotes will remain closer to the upper boundary.
  • Longer term (6+ months): the scenario of a smooth devaluation remains: the expected benchmark is UAH 43.00-44.50/$, provided that foreign aid is stable and the NBU’s policy is controlled.

Euro exchange rate: dynamics and analysis

General characteristics of market behavior

The end of August showed more volatility for the euro than for the dollar. During the week, the exchange rate initially declined (to lows of ~47.80 UAH/€ on the buy side and ~48.40 UAH/€ on the sell side on August 27-28), but recovered to the level of 48.20-48.60 UAH/€ at the end of the period (August 30-31). It was a technical rebound that was synchronized with movements in the EUR/USD pair on the global market after the Fed chairman’s statement.

Prior to the news from the US, the market had recorded a stabilization in the euro after the previous decline, but there were no drivers for a new trend or significantly different levels from the current target levels.

Key influencing factors

  • Global cues: The Fed’s hint of a possible rate cut pushed the euro to a short-term recovery against the dollar and hryvnia.
  • Domestic market: demand for cash euros has cooled after the summer overheating, and speculative transactions are declining. This slowed down sharp fluctuations and reduced pressure on the spread.
  • Spread: for most of the month, it remained in the range of UAH 0.50-0.70/€, but during the correction in the second half of August, it fell closer to UAH 0.40-0.50/€. This is a sign that market operators feel the balance of supply and demand and do not include additional risk premiums.

Forecast.

  • In the short term (1-2 weeks): the expected range is 48.20-48.90 UAH/€. If the market receives new weak data from the US, there may be short attempts to reach 49.00 UAH/€.
  • Medium-term (2-3 months): likely to balance in the range of 48.50-49.80 UAH/€, depending on the September Fed decision. A rate cut in the US will boost the euro, but keeping rates on hold will keep it on the sidelines.
  • Long-term (6+ months): the baseline scenario is UAH 49.00-51.00/€ with episodes of volatility in the event of new US-EU trade agreements or changes in ECB policy.

Recommendations: act in ranges, keep liquidity, hedge risks

Key universal ideas:

  • On the short-term horizon: The USD is holding close to the lower boundaries of the band, with no reason for a sharp strengthening; the EUR is more of a sideways pair with short rebounds possible.
  • Liquidity over profitability: keep a stock of free currency for current needs, and hold term instruments only with an early access option.
  • A universal strategy for everyone – flexibility, division of operations into parts, hedging.

  • Plan in ranges, not in points: in calculations, you should focus on a “corridor” rather than a specific number.
  • Keep an eye on spreads: their narrowing is a moment to optimize purchases/sales, while their widening is a signal to slow down.
  • Risk management: Avoid large transactions and long-term commitments, especially amid rumors and news – in a phase of relative calm, information injections often swing expectations without a real basis.

For private investors and savers:

  • USD is the basis of stability, EUR is flexible: the dollar remains the “anchor” of the portfolio, and the euro can be added in small tranches after correction.
  • Don’t chase the “peaks”: the market is mostly sideways now, so distribute the exchanges gradually.
  • The hryvnia is only for current expenses: a reserve of 1-2 months of current needs is enough, and the surplus should be kept in hard currency or currency-linked instruments.

For speculative operations on USD/UAH and EUR/UAH:

  • This is the time for short positions and quick profit-taking in small portions.
  • Watch for “intersections” between official and market rates: sharp jumps and narrowing spreads often mean a technical delay and a quick “catching up” of the market.
  • Take care of liquidity: avoid large transactions at times when there are few offers and a wide gap between rates; do not hold large positions before the release of key macro data.

This material was prepared by the company’s analysts and reflects their expert, analytical professional judgment. The information presented in this review is for informational purposes only and cannot be considered as a recommendation for action.

The Company and its analysts make no representations and assume no liability for any consequences arising from the use of this information. All information is provided “as is” without any additional warranties of completeness, obligations of timeliness or updates or additions.

Users of this material should make their own risk assessments and informed decisions based on their own evaluation and analysis of the situation from various available sources that they consider to be sufficiently qualified. We recommend that you consult an independent financial advisor before making any investment decisions.

REFERENCE

KYT Group is an international multi-service product FinTech platform that has been successfully operating in the non-banking financial services market for 16 years. One of the company’s flagship activities is currency exchange. KYT Group is one of the largest operators in this segment of the financial market of Ukraine, is included in the list of the largest taxpayers, and is one of the industry leaders in terms of asset growth and equity.

More than 90 branches in 16 major cities of Ukraine are located in convenient locations for customers and have modern equipment for the convenience, security and confidentiality of each transaction.

The company’s activities comply with the regulatory requirements of the NBU. KYT Group adheres to EU standards, having a branch in Poland and planning cross-border expansion to European countries.

https://interfax.com.ua/news/projects/1101270.html

 

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