Business news from Ukraine

Business news from Ukraine

New industrial park with UAH 1 bln investment to be built in Vinnytsia

A new industrial park, Integral, will be set up in Vinnytsia on the territory of a former lamp factory, the city’s mayor, Sergey Morgunov, said on Facebook.
“Today we launched the creation of the fifth industrial park in Vinnytsia. Invest Holding Company LLC plans to invest UAH 1 billion in its construction. Subsequently, about 930 people will be employed here,” Morgunov wrote on Thursday evening.
He emphasized that attracting investment and opening new production facilities during the war is critical for the life of the community.
According to opendatabot, Invest Holding Company LLC was registered in 2022, with the main activity being the provision of commercial services and leasing of property. The ultimate beneficiary of the company is Vinnytsia businessman Taras Kovalchuk. In 2023, the company’s revenue amounted to UAH 5 million, and the loss was UAH 0.26 million.
Kovalchuk owns Zodchiy LLC, a Vinnytsia-based company specializing in the sale of wood and building materials (he owns 87.8% of Invest Holding Company LLC). The company’s net income in 2023 amounted to almost UAH 566 million.
There are currently four IPs in Vinnytsia: Vinnytsia Cluster of Refrigeration Engineering, WinterSport, Volia Agri-Food Park Vinnytsia, and VinIndustri, which has four residents and has received UAH 79 million in state support under the IP support program. Volia Agri-Food Park Vinnytsia, which is invested by Borys Shestopalov, co-owner of foodtech companies HD Gtroup and GFS, also received about UAH 116 million in state support.

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Insurance company Krajina has new head of supervisory board

The Supervisory Board of the insurance company Krajina (Kyiv) at the meeting on November 14 appointed Roman Yaroshenko, who had been the head of the supervisory board of Asvio Bank JSC for the last five years, as the head of the supervisory board of the financial institution. According to the message of the insurance company in the information disclosure system of the National Commission on Securities and Stock Market, at the same meeting the Supervisory Board, in connection with the appointment of a new head, terminated the powers of Elyana Pustovalova in this position.

IC “Krajina” has been operating in the insurance market of Ukraine since 1994. It has licenses for 23 types of insurance.

On October 17, 2024 the Antimonopoly Committee of Ukraine has granted permission to a natural person – citizen of Ukraine to acquire control over IC “Krajina”.

According to the data of NCSSM as of Q2 2024 the shareholders of the company were the joint-stock company “Closed non-diversified venture corporate investment fund ‘Kiwi’-76,2%, ZNVKIF ‘Sirius’ and Oleg Zimin 7,491% each.

Asvio Bank (formerly Privatinvest Bank) was founded in 1991. According to the NSCM as of Q2 2024, the bank’s shareholders were Vyacheslav Suprunenko (69.9016%), his brother Alexander Suprunenko (20%), and Andriy Zaets (7.693%).

According to the NBU, as of June 1, 2024, Asvio Bank ranked 42nd among 63 Ukrainian banks in terms of assets – UAH 3.06 billion. Net profit of the financial institution for 2023 amounted to UAH 22.37 million.

 

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Analysts have analyzed price trend for cucumbers in Ukraine

Prices for greenhouse cucumbers in Ukraine have significantly decreased, and this is the first time for the last 1.5 months, analysts of the project EastFruit. The main factor for strengthening the downward price dynamics was a sharp increase in the market supply of imported products from Turkey. At the same time, vegetables from local greenhouses practically did not come to the market, which is due to the seasonal factor.

Thus, today the range of wholesale prices for greenhouse cucumbers in Ukraine varies within 70-100 UAH/kg ($1.70-2.42/kg), while a week earlier it was possible to sell at higher prices, 100-125 UAH/kg ($2.42-3.03/kg). At the same time, the majority of sellers of greenhouse vegetables do not exclude that in the coming weeks prices for imported cucumbers will continue to decline due to the gradual increase in the supply of these products on the Ukrainian market.

It should be noted that today imported cucumbers in Ukraine are on sale on average 24% more expensive than in mid-November last year.

More detailed information about the development of the market of greenhouse cucumber and other horticultural products in Ukraine you can get by subscribing to the operative analytical weekly – EastFruit Ukraine Weekly Pro. Detailed information about the product can be found here.

Jerelo: https://east-fruit.com/novosti/ogurtsy-podesheveli-v-ukraine-vpervye-za-poltora-mesyatsa/

Only 24% of pig producers support EU accession

24% of the pig industry representatives consider joining the European Union to be positive, as it will open access to new markets with more transparent rules and conditions, according to a study conducted by the Pig Producers of Ukraine in cooperation with the Food and Agriculture Organization of the United Nations (FAO) and the European Bank for Reconstruction and Development (EBRD).
Analysts noted that such a low percentage of positive responses is due to the fact that the majority (40%) of respondents associate EU accession with the loss of their competitiveness, 26% fear tighter regulatory requirements, and 10% say the sector is technically and financially unprepared given the large amount of investment needed to improve the production system in accordance with all European requirements.
“Under such conditions, 36.2% of pork producers who took part in the survey are convinced that for a faster and easier transformation of the industry in accordance with EU requirements, preferential loans, grants, other compensations and access to financial resources are needed. Others believe it is necessary to remove the corruption/bureaucratic component in the processes of obtaining permits and certificates, the high share of the black market, overcome individual difficulties of operators, as well as economic and military challenges,” the industry association explained.
The survey involved pork producers who provide about 80% of the industrial supply on the market. Their total livestock is more than 2 million heads.

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Prices for onions have started to fall in Ukraine

Ukrainian farmers are forced to reduce selling prices for onions this week, according to analysts of the EastFruit project. According to market participants, the negative price trend is caused by several factors at once. First of all, the demand for onions has fallen significantly. At the same time, the supply of onions on the market has increased significantly. Small farms began to actively sell out of unequipped storage facilities and are ready to make concessions in the hope to realize the available volumes before the onset of frost.

To date, Ukrainian producers are ready to ship onions in the range of UAH 8-14/kg ($0.19-0.34/kg), depending on the quality and volume of products, which is on average 13% cheaper than at the end of last week.

Producers of these vegetables report a noticeable weakening of demand for onions, while supply on the market continues to increase. The increase in supply is due to the desire of farmers to get rid of substandard onions as soon as possible. At the same time, the demand for such products remains relatively low, mainly such onions are purchased by chains and resellers for current sales, as they are practically unsuitable for long-term storage.

It should be noted that today onions in Ukraine are already on sale on average 20% cheaper than in the same period last year. We would like to add that according to market participants, it is quite difficult to buy quality onions at the moment, as many producers have put such products in storage and plan to sell them only in the second half of the current season.

You can get more detailed information about the market development of onions and other horticultural products in Ukraine by subscribing to the operative analytical weekly – EastFruit Ukraine Weekly Pro. Detailed information about the product can be found here.

EastFruit

 

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EU wine production to decline by 3% due to weather and rising costs

Wine production in the European Union will decline by about 3% this year due to unfavorable weather conditions and rising costs, agricultural lobbying group Copa-Cogeca predicts.
Wine production in the EU this year will amount to about 144 million hectoliters (hl), the group said in a press release.
Italy is expected to become the largest wine producer in Europe with 41 million hectoliters (up 7%), Spain will take second place (38.1 million hectoliters, up 18% year-on-year), and wine production in France will fall by 22%, which will cause the country to fall back to third place with 37.4 million hectoliters.
The outgoing year was marked by unpredictable weather and the effects of recent droughts in Europe, the report says. Meanwhile, vineyard diseases have become less of a problem than in 2023, experts say. In addition, rising prices for glass, gasoline, transportation services and fertilizers have significantly increased producers’ costs, and high interest rates have made it difficult to access the loans needed to grow the business.
“The European wine market is going through a difficult time, affected by high production costs and the situation on international markets,” said Luca Rigotti, head of the Wine Working Group at Copa-Cogeca. – “However, I am confident in the resilience and entrepreneurship of our farmers.

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