Germany will contribute to post-war security guarantees for Ukraine, Federal Chancellor Olaf Scholz said on the sidelines of the European Political Community summit in Moldova.
“We are now making our contribution in support of Ukraine. And we have always said that there must be guarantees of a peaceful order after the war. And Germany will contribute. How they (guarantees – IF-U) will look in concrete terms, we have yet to discuss, and we have been talking about this for a long time,” Scholz said.
He said Germany’s financial, humanitarian and arms support to Ukraine is a contribution to ensuring that Ukraine continues to resist Russian aggression in the face of ongoing attacks.
“Our financial and humanitarian aid, as well as the support we provide with weapons, is very important – and, after the United States, is the largest contribution of any single country. What we have provided in terms of air defense is very important now, at a time when there are so many missile strikes, aircraft strikes, cruise missile strikes by the Russian Federation, and that is our contribution to make sure that Ukraine resists,” he said.
Scholz also stressed that holding such an event as the summit of the European political community is a contribution to the good development of a secure Europe. At the same time, the German chancellor assured that Russia’s war of aggression against Ukraine was his priority.
“What concerns us all most is Russia’s war of aggression in Ukraine, which calls into question the European architecture of peace and security and, of course, poses a terrible threat to Ukraine and the people who live there every day. In this regard, it is important that all states with no revisionist agenda of this kind come together and talk to each other here, far beyond their membership in the European Union,” he said.
“The European political community is a contribution to the good overall development of our Europe. It is very important that we support Ukraine. We do it on a large scale, and Europe is united in supporting Ukraine in defending its country,” Scholz summarized.
Raiffeisen Bank has allocated UAH 40 million for the project “Zahystok: Bezpechna Osvita” (Bezpechna Osvita) launched by the Kyiv School of Economics (KSE Institute) and the KSE Foundation to provide school shelters for 30,000 school children.
“The full-scale war violates one of the main rights of children – to get an education,” the bank’s press service said in a statement on Thursday.
It is pointed out that the Zahystok project was created by the KSE last September and includes activities ranging from physical sheltering in schools to creating innovative educational programs in the robotics, AI and STEM industries.
According to the KSE website, the project has raised $1.4m against a stated goal of $3m. Farmak, FUMB, Dragon Capital, OKKO and Kyivstar are also among the benefactors.
During the project period more than 8 thousand school and pre-school pupils returned to their desks, while the KSE Charitable Foundation increased its goal from 100 to 300 equipped stores across the country and plans to return another 10 thousand schoolchildren to their schools by September 1 this year.
The basic condition for schools to be allowed to return to offline classes is the availability of a shelter that meets KSE’s requirements. The KSE Foundation installs modern shelters in accordance with all sanitary and safety standards.
It is specified that everyone who cares can join the collection. You can make a contribution in your personal Raiffeisen Online cabinet in the section “Payments/Assistance to Ukrainians” or at the KSE Foundation website.
For their part, each school without a secure vault for students may file an online application to set up a vault on the KSE’s website.
Since the beginning of the war the KSE Foundation has raised $50.4 million for various projects.
The total gross harvest of grains and oilseeds in Ukraine in 2023 is expected to be 68 million tons, 8.5% less than in 2022, when it was 73.8 million tons, and 36% less than in 2021 (106 million tons), this forecast was released by the Ukrainian Grain Association (UZA).
“The significantly lower volume of the future harvest is due to both the occupation of part of the territory of Ukraine, mines, hostilities, and the lack of funds and other resources for farmers to conduct a full sowing campaign and grow crops,” UZA said in a statement.
According to its estimate, the total area sown in Ukraine will be 28.2% less than in previous years – about 19.5 million hectares. “Of course, much depends on how the sowing season will end and on further weather conditions,” the association said.
According to its analysts, exports from Ukraine in the new season 2023/2024 could amount to 43.9 million tons. In the current season (which ends June 30, 2022), exports could reach 56.4 million tons, preserving the marine export route. At the same time, transitional balances at the beginning of the new season could be about 11.9 million tons of grains and oilseeds, which is three times more than in previous seasons, except in 2022/2023 MY, when balances were the maximum (about 25 million tons).
“A characteristic feature of this year will be a drop in the volume of grain crops due to a decrease in the area sown under them compared to last year and a simultaneous increase in the forecast of oilseed crops due to an increase in the area sown under them,” the UZA stressed.
According to grain market analysts, the harvest of wheat in Ukraine in 2023 could reach only 17.9 million tons (in 2022 – 20.2 million tons, and in 2021 – a record 33 million tons), with a reduction in acreage under wheat by more than 2 million hectares.
“Even this harvest is enough to meet domestic demand and food security of the country (especially when about 7 million Ukrainians have left the country), but will reduce the export potential for food security in the world,” the association explained.
According to its data, the export of wheat in 2023/2024 MY, given the smaller harvest, could be about 15 million tons, taking into account the fact that at the beginning of the season transitional residues will amount to 5.3 million tons.
UZA also forecast a barley crop of 4.4 million tons in 2023 (10.1 million tons in 2021 and 5.8 million tons in 2022) and expects to export this crop in 2023/2024 MY at 2 million tons.
Corn harvest in the new season in the UZA expects at 23.3 million tons, linking this figure with the reduction of cultivation areas on 800 thousand hectares (in 2021 – 37.6 million tons, in 2022 – 27.3 million tons). According to experts of the Association, the export of this crop may be about 19 million tons, taking into account the transition stocks at the beginning of the new season at the level of 2.3 million tons.
Analysts at UZA forecast the sunflower harvest in 2023 at 12.7 million tons, due to the increase of cultivated areas under it also by 800 thousand hectares (in 2022 – 11.1 million tons, in 2021 – 16.9 million tons). UZA expects sunflower seed export at 1.2 million tons, and sunflower oil production may reach 11.5 million tons.
UZA’s preliminary forecast for rapeseed harvest in 2023 is 3.8 million tons, with exports in 2023/2024 MY at 3.5 million tons. The soybean crop is at nearly 4.4 million tons and exports 2023/2024 MY will be 3 million tons.
According to analysts, the forecast voiced exports of grains and oilseeds in 2023/2024 MY will be valid if the work of the Ukrainian Black Sea ports. “The world has already seen that export of grain through Ukrainian ports and ensuring the safety of navigation in the Black Sea is the only way to quickly and efficiently supply Ukrainian grain to the countries that badly need it,” the business association stressed.
UZA stressed that the reduction of crops and exports from Ukraine will have a negative impact on the availability of grain on the world market and will lead to higher prices and, consequently, to an increase in food inflation in the world.
According to the forecast of Ministry of Agrarian Policy, announced in late March, the area of cereals and leguminous crops in 2023 will be 10.24 million hectares, which is 1.4 million fewer than in 2022, while the area under oilseeds will grow by 0.92 million hectares – to 8.85 million hectares. In particular, winter wheat will be 4166 thousand hectares (-834 thousand hectares against the previous year), spring wheat – 285 thousand hectares (+67 thousand hectares), winter barley – 536 thousand hectares (-255 thousand hectares).
National bank of Ukraine’s official rates as of 01/06/23
www.bank.gov.ua
@Source: National Bank of Ukraine
Austria is preparing for a possible cessation of Russian gas if its transit through Ukraine is stopped, Federal Chancellor Karl Nehammer told reporters in Chisinau.
“We are constantly preparing for serious challenges. That is why our storage is already 75% full. And we are also negotiating with those who have new volumes of gas. If Russian gas runs out completely, OMV is already working on that,” he said.
Asked whether he would talk to Ukrainian President Zelensky about it, Nehammer said: “This is not the main topic today. It’s about the war in Ukraine. But it’s always an issue of security of energy supply, which is on Austria’s agenda. So it is always a topic that is taken into consideration.”
The stock indices of the largest countries in the Asia-Pacific region are rising on Thursday, with the exception of the South Korean stock market.
Investor sentiment was supported by the news that the US House of Representatives had overwhelmingly approved a bill on the debt ceiling, as well as strong statistics.
China’s manufacturing purchasing managers’ index (PMI), calculated by Caixin Media and S&P Global, rose to 50.9 points in May, up from 49.5 points a month earlier. This came as a surprise to analysts, who had not expected any change in the indicator. The value of the indicator above the 50-point mark indicates an increase in activity in the industrial sector, while below it indicates a decline.
The Chinese Shanghai Composite index by 8:33 a.m. increased by 0.4%, the Hong Kong Hang Seng by 1%.
On the Hong Kong Stock Exchange, the most significant increase is shown by the shares of Internet companies Meituan, Baidu Inc. and Tencent – by 6.1%, 4.7% and 4.1%, respectively, retailer JD.com Inc. by 5.3%, and oil company PetroChina Co. by 3.2%.
Meanwhile, the securities of developers Longfor Group Holdings Ltd. and Country Garden Holdings are falling in price – by 2.3% and 1.4%, respectively.
Japan’s Nikkei 225 index was up 0.7% by 8:29 a.m. on Thursday.
Among the leaders of the growth of quotations are shares of investment and technology SoftBank Group (+4.7%), electric power Tokyo Electric Power Co. (+3.7%), Mitsubishi UFJ Bank (+3.5%).
Also rising in price are the shares of technology companies Renesas Electronics (+4%) and Advantest Corp. (+0.3%), consumer electronics manufacturer Sony (+0.5%), automotive Toyota Motor (+0.7%), and game console manufacturer Nintendo (+1.7%).
The Australian S&P/ASX 200 index added 0.3% by 8:29 a.m.
The capitalization of the world’s largest mining company BHP decreased by 0.1%, while the value of rival Rio Tinto increased by a similar amount.
The South Korean Kospi index has fallen by 0.2% since the start of the trading session.
Share prices of one of the world’s largest chip and electronics manufacturers, Samsung Electronics Co. fell by 0.3%, and automaker Hyundai Motor – by 1%.
