Business news from Ukraine

Since the beginning of August, 5 more Ukrainian companies have received the status of authorized economic operator

In total, 53 companies now have 55 authorizations, and two companies have received both possible statuses – AEO-C and AEO-B.

Less than two weeks ago, we reported on 48 companies that had received a total of 50 authorizations in different periods of time. Here is the list of companies that have been authorized:

VODALAND INDUSTRY LLC
J.D. EGBERTS UKRAINE LLC
LLC “EKOL LOGISTICS”
PROCTER & GAMBLE UKRAINE LLC
“CUSTOMS BROKERAGE AGENCY “CAPITAL” LLC.

The increase in the pace of accession demonstrates the transparency and reliability of businesses applying for authorizations. At the same time, there has been an increase in the number of multinational corporations that have already had experience of successfully passing the self-assessment procedure to obtain status in other countries. Now they are actively joining the AEO institution in Ukraine to enjoy the relevant benefits and simplifications.

More about the AEO status and authorization to apply simplified procedures at https://customs.gov.ua/deiaki-pitannia-funktsionuvannia-avtorizovanikh-ekonomichnikh-operatoriv

Earlier, roundtables were devoted to customs reform, where the organizer and moderator of the events, Maksim Urakin, stated that the State Customs Service provides up to 40% of the state budget revenues of Ukraine, and these figures have remained stable in recent years. That is why customs reforms are so important for the country.

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India’s gold imports totaled more than $22 billion in first 7 months of 2024

India imported $3.13 billion worth of gold in July 2024, the country’s Ministry of Commerce and Industry said. This is 11% less than in July last year, but 2% more than in June this year.

Demand for gold in India both this year (the season of purchases – August-December), and in the long term can grow significantly due to the reduction of customs duties, says World Gold Council analyst Kavita Chako. Duties on gold have been reduced from 15% to 6%, on gold doré – from 14.35% to 5.35% – such a sharp decline has never been. Moreover, for almost 11 years the duties have never fallen below 10%. The changes came into force on July 24.

In total for 7 months of the year gold imports to India amounted to $22.234 billion, which is 12% more than the result of the corresponding period last year. India is one of the largest consumers of gold in the world, practically not producing it itself.

 

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Ukrainian Weather Center warns of extraordinary level of fire danger in Kyiv and region

The Ukrainian Hydrometeorological Center warns of an extraordinary level of fire danger in Kyiv and the region on August 17 and 18.

“Weather conditions will contribute to a high probability of fires in ecosystems in the presence of sources of ignition (open fire),” the center said in a statement on its Telegram channel on Friday.

The Kyiv City State Administration (KCSA) asks residents and guests of the capital to follow fire safety rules, not to use faulty or damaged electrical equipment, not to make fires, in particular, in parks and forest park areas, etc.

The KCSA reminds of the decision of the Kyiv City Defense Council to ban visits to forests and forest park areas under martial law, both on foot and by transport.

In addition, it is reported that according to Article 152 of the Code of Administrative Offenses of Ukraine, a fine of UAH 340 to UAH 1,360 is provided for lighting a fire in unauthorized places.

There is also a strict ban on burning dead wood in Ukraine, the violation of which is punishable by a fine: for citizens – from UAH 6120 to 12240; for officials – from UAH 21420 to 30600.

Zinc exports from Ukraine for seven months of this year amounted to $120 th.

According to customs statistics released by the State Customs Service of Ukraine, zinc exports for seven months of this year amounted to $120 thousand (and in July – $21 thousand), while in January-July last year it amounted to $86 thousand.
Zinc exports abroad in 2023 amounted to $130 thousand against $1.331 million in 2022.
Pure metallic zinc is used to restore noble metals, used to protect steel from corrosion and for other purposes.

 

 

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Pork prices went up by 5.5% over week – ASU

Prices for live pigs increased by 5.5% over the week and reached 61.8 UAH/kg on average in the country, the Ukrainian Pig Association (UPA) reported.
According to the report, last Friday’s auction ended with an increase in purchase prices for slaughter pigs by 2-4 UAH/kg. Therefore, in mid-August, live pork prices mostly tended to 61.5-62 UAH/kg, although in some places quotes were announced in a wider range – 60-63+ UAH/kg.
“The expectations of the meat processing industry representatives regarding further price dynamics are not uniform. Thus, some operators note that the trade is quite stable, while others, on the contrary, have felt some activation since the second half of the week, as additional applications began to arrive,” analysts said.
Processing enterprises consider the seasonally adjusted supply of conditioned pork to be mostly sufficient to meet their current needs for raw materials, but do not rule out the possibility of further positive price correction by at least 1-2 UAH/kg, the industry association summarized.

Components of state budget expenditures in 2021-2024, UAH bln

Components of state budget expenditures in 2021-2024, UAH bln

Source: Open4Business.com.ua