Ukrainian wheat, which is in great demand on the world market, has started to rise in price due to a decrease in supply from key players who have reduced their activity ahead of the new season harvest, according to the analytical cooperative “Start”, created within the framework of the All-Ukrainian Agrarian Council (AAC).
“In April, 541 thsd tonnes of wheat have already been exported. Some of the products that could not be exported in March will be shipped from Ukraine in April. Therefore, this month we can reach the export level of 3 mln tons – this will happen due to the March contracts. Importers are ready to wait for wheat deliveries, as demand is growing. The increase in demand is supported by the forecasts of production decline in the EU, the US and Ukraine, i.e. all key exporters,” the analysts said.
They reminded that last season Ukraine exported a lot due to large carry-over stocks. This season, they will not exceed 1 million tons, as the ports are working. At the same time, the sown areas are shrinking, and less wheat will be harvested. The first estimates of the export potential of Ukrainian wheat in the new season have already been reduced by 3-4 million tons.
“Although the Ukrainian CPT market saw a drop in prices last week, the market is coming back to life, prices are returning to previous levels and will continue to grow. Our main competitor – Russian wheat – has risen in price by $8-10 per ton in recent weeks. The price of Ukrainian wheat will rise by at least $2-3 per ton by the end of the week,” the experts predict.
According to their estimates, by the end of the week, the conditional prices for wheat on CPT basis will be about $175 per ton in the Danube ports, $170 per ton in deep-water ports, $198-203 per ton on DAP Constanta basis.
“According to expectations, the demand for wheat will continue to drive the wheat market upwards,” Pusk summarized.
Key indicators of state budget (monthly), UAH bln
Source: Open4Business.com.ua and experts.news
Naftogaz of Ukraine is negotiating gas storage deals with Germany’s RWE, Norway’s Equinor, France’s TotalEnergies and Engie, the group’s CEO Oleksiy Chernyshov told Bloomberg.
According to him, there is still time to conclude agreements, as the largest volumes of gas injection usually occur in August and September.
Chernyshov also clarified that so far no foreign company that already stores gas in Ukraine has abandoned its decisions, despite the recent Russian attacks on gas infrastructure.
The company continues to serve customers and repair equipment damaged by recent rocket attacks.
The Head of the NJSC reminded that the state energy regulator has recently improved the conditions for gas storage from June 1, 2024. The new rules include shorter booking intervals for capacity – for months rather than for a whole year, which improves the attractiveness of Ukrainian storage facilities for foreign traders.
As reported, in 2023, the volume of gas from foreign traders and energy companies pumped into Ukrainian UGS facilities for storage reached 2.5 bcm. This year, Naftogaz expects to increase this figure to 4 bcm.
Deputy Head of the Presidential Office Ihor Zhovkva had a conversation with Diplomatic Advisor to the Prime Minister of the Republic of Portugal, Georges Monteiro, via video link, the press service of the President of Ukraine reported on Tuesday.
Ihor Zhovkva thanked Jorge Monteiro for Portugal’s continued support of our country’s fight against Russian aggression.
“We appreciate Portugal’s practical participation in the tank, aviation and maritime coalitions. It is important that the volume and pace of military support continue to increase,” Ihor Zhovkva emphasized.
In the course of the conversation, the Deputy Head of the Presidential Office informed Georges Monteiro on the situation at the frontline and urgent military needs of Ukraine.
The interlocutors agreed to start negotiations on the conclusion of a bilateral security agreement in pursuance of the joint declaration of the Group of Seven on the support of Ukraine in the nearest future.
Particular attention was paid to Portugal’s support for the Ukrainian peace formula, as well as Ukraine’s European and Euro-Atlantic aspirations. George Monteiro noted Ukraine’s progress in implementing reforms necessary for its future membership in the EU and NATO.
As reported earlier, President of Ukraine Volodymyr Zelenskyy and Prime Minister of Portugal Luis Montenegro instructed to start working on the preparation of a security agreement.
Quotes of interbank currency market of Ukraine (UAH for 1 pln, in 01.01.2024-31.01.2024)
Source: Open4Business.com.ua and experts.news
The Energy Support Fund has managed to raise over EUR410m from 13 partner countries and international organizations as of April 9.
“The remaining amount is the announced contributions, which will soon be transferred by the sponsors,” the Ukrainian Energy Ministry said on Tuesday.
As the ministry noted, the special trust of partners has been secured thanks to the system of transparent distribution of funds. In particular, the Ministry of Energy has a working group on humanitarian aid, which considers requests from Ukrainian energy companies to purchase the necessary aid with the Fund’s resources.
The Fund financed the most urgent needs of Ukrainian energy companies, in particular, the purchase of generators, power transformers, circuit breakers, spare parts, technical means, materials, special equipment, fuel, means of physical protection of energy facilities.
“Most of all funds are distributed to meet the urgent needs of energy companies from frontline regions – Kharkiv, Mykolayiv, Sumy, Zaporizhzhya, Kherson, Odessa,” the Ministry of Energy said.
