Business news from Ukraine

Business news from Ukraine

Planted acreage in Ukraine in 2023 to decrease by 24%

Area under crops in Ukraine in 2023 will be reduced by 7 million hectares or 24.1% compared to the prewar level – to 22 million hectares from 29 million, director of the Agrarian Development Ministry Igor Vishtak said during a discussion panel at Mediacenter Ukraine on Tuesday.
According to him, this year the structure of areas under crops will change significantly in favor of oilseeds, and the forced reduction of fertilizer inputs will directly affect the gross harvest.
“For domestic consumption, of course, in all food groups we will be provided, but the export potential is expected to change. In particular, much less corn will be sown, while it is one of the main crops that were exported,” Vishtak said during the discussion.
He also stressed that the state will focus on supporting small agrarians, so now it is working to continue the program of subsidies and subsidies per hectare of cultivated land and per head of cattle. The importance of their support is connected, among other things, with the fact that it is small farmers who are mostly engaged in vegetable growing, the deficit of which we are now seeing in the domestic market.
In addition, in the budget for 2023 the Government has planned more than 16 billion UAH of credit, of which 9.6 billion UAH for farmers. This will partially prolong last year’s loans and will provide an opportunity to issue new loans for the sowing season.
As it was reported, Ukrainian agricultural producers last year sowed major winter crops on the area of 4.5 million hectares, including 3.8 million hectares of wheat, 613 thousand hectares of barley and 79.2 thousand hectares of rye. Moreover, in Ukraine there have been sown winter rape on 999 thousand hectares, that is 104% of the previously planned.
Thus, a total of 5.5 mln ha of winter grains and oilseeds have been sown in Ukraine, which is 62% of the last year’s volume.
In 2021, Ukraine allocated 8.87 million hectares for winter crops, including 6.66 million hectares for wheat, 1.02 million hectares for barley, 160.6 thousand hectares for rye and 1.03 million hectares for rape.

Ukraine launches diplomatic training for Africa

A comprehensive four-day online training course for diplomats from African countries has been launched at the Ukrainian Diplomatic Academy named after Gennadiy Udovenko under the Ukrainian Foreign Ministry, the course will continue the “renaissance of relations” between Ukraine and African countries, Foreign Minister Dmitry Kuleba said.
“During my tour, our African partners showed great interest in learning about the Ukrainian diplomatic experience. In a year of countering Russia’s full-scale invasion, Ukraine has established itself as an unqualified international leader in the areas of communications, public diplomacy, combating disinformation and crisis response. The training course developed by the Ukrainian Foreign Ministry will continue the renaissance of relations between Ukraine and African countries, and will also become our practical contribution to strengthening the sustainability of the countries of the African continent,” the Foreign Ministry press service quotes Kuleba as saying.
In the course “Security and Diplomacy in Wartime. Ukrainian experience,” more than 200 diplomats from countries such as Nigeria, Kenya, Ethiopia, Somalia, Cote d’Ivoire, South Africa, Botswana, Mozambique and Senegal will have the opportunity to learn from Ukrainian diplomatic practitioners, international scientists and think tank experts.
According to Kuleba, the Ukrainian Foreign Ministry plans to hold a series of similar training courses for a number of other African countries in 2023 as part of the intensification of relations with Africa.

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Yermak discussed with Sullivan further support for Ukraine

Head of the Office of the President Andrey Yermak in a telephone conversation discussed with Jake Sullivan, national security adviser to the US President, further support for Ukraine as it approaches the anniversary of Russia’s full-scale invasion, the Presidential Press Service reported.
“The two sides discussed the strong support the United States will continue to provide to Ukraine as the anniversary of the war approaches, and also noted the importance of our continued communication,” the statement said.
Also, the head of the Office of the President informed the American side about the current situation on the front.
Additionally, Yermak thanked the American people, the US president and both houses of Congress for supporting Ukraine.

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Ukraine exported over 29 million tons of grain – Ministry of Agrarian Policy

Ukraine from the beginning of 2022/2023 marketing year (July-June) to February 13, exported 29.16 million tons of cereals, including 16.72 million tons of corn (57.3% of total supplies), 10.39 million tons of wheat (35.6%) and 1.94 million tons of barley (6.7%).
As reported on the website of the Ministry of Agrarian Policy and Food on Monday, the rate of grain exports since the beginning of this year is by 28.65% lower than during the same period of the previous year, when 40.81 million tons were shipped abroad. At that, as of February 13, the highest average daily export rate for the current MY was achieved, while the previous lowest lag from the last year’s figure was reached on January 9 – “minus” 29.61%.
According to the Ministry, Ukraine exported 16.72 million tons of corn (-3.7% compared to the same period last year), 10.39 million tons of wheat (1.69 times less), 1.94 million tons of barley (2.84 times less), 13.4 thousand tons of rye (11.8 times less) and 89.5 thousand tons of flour (+38.1%) from the beginning of 2022/2023 MY to February 13 this year.
It is specified that Ukraine exported 2.19 million tons of grain since early February, including 1.4 million tons of corn, 653 thousand tons of wheat, 126 thousand tons of barley, 7,100 tons of flour and 1 thousand tons of rye.
As follows from the Ministry data, during the period of February 3-13, an average of 170.7 thousand tons of cereals per day were supplied to foreign markets, whereas during the preceding period of January 27 – February 3 – 209.4 thousand tons of cereals per day, January 20-27 – 121.1 thousand tons per day, January 9-20 – 140 thousand tons per day, and January 2-9 – 121.7 thousand tons per day. Thus, the average daily rate of exports during the reporting period of 3-13 February decreased by 18.5% compared to the previous period January 27-February 3.
As reported, Ukraine exported 48.51 million tons of grain and leguminous crops in 2021/2022 MY, which is 8.4% higher than in the previous MY, despite the full-scale invasion of Russia and the difficulties with the export of agricultural products due to the blockade of Ukrainian sea ports. 18.74 million tons of wheat (12.6% more than in 2020/2021MY), 23.54 million tons of corn (+1.9%), 5.75 million tons of barley (+35.9%), 70.9 thousand tons of flour (-44.1%) were supplied to foreign markets.
Ukraine in 2020/2021 MY exported 44.72 million tons of grain and leguminous crops: 16.64 million tons of wheat, 23.08 million tons of corn, 4.23 million tons of barley, 126.9 thousand tons of flour and 18.4 thousand tons of rye.
In 2019/2020, Ukraine exported 56.72 million tons of grain and leguminous crops.

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Dynamics of changes in population of Ukraine from 1991-2022

Dynamics of changes in population of Ukraine from 1991-2022

Source: Open4Business.com.ua and experts.news

Oil prices fall, Brent $86.01 barrel

Oil prices are falling on Tuesday on a report by Bloomberg that the U.S. plans to sell additional amounts of crude oil from its Strategic Petroleum Reserve (SPR).
According to the agency, the USA intends to sell 26 million barrels of oil from SPR in the period from April to June this year.
April Brent crude futures on London’s ICE Futures exchange stood at $86.01 a barrel by 7:10 a.m. Tuesday, down $0.6 (0.69%) from the previous session’s closing price. Those contracts rose $0.22 (0.3%) to $86.61 a barrel on Monday.
The price of WTI futures for March crude oil at electronic trades of NYMEX fell by $0.87, to $79.27 per barrel by that time. At the end of previous session the contracts value grew by $0.42 (0.5%) up to $80.14 per barrel.
The previous day the oil market grew due to signals of an increase in business activity in China, while Russia announced a cut in its production. Russian Deputy Prime Minister Alexander Novak told reporters on Friday that the country intended to reduce oil production by 500,000 bpd in March.
Traders’ attention on Tuesday will be focused on U.S. inflation data for January, which will allow investors to make new forecasts about future Federal Reserve policy and the prospects of the American economy, Market Watch notes.

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