Business news from Ukraine

Business news from Ukraine

UKRAINE PRODUCES 703,000 TONNES OF SUGAR BY NOV 16

Sugar production in Ukraine as of November 16 amounted to 702,900 tonnes.
According to a report on the website of the National Association of Sugar Producers Ukrtsukor, as of the indicated date, 30 sugar factories were operating in the country, which have processed 5.34 million tonnes of sugar beets.
As reported with reference to Ukrtsukor, the sugar beet processing season in the country started on September 5.
Sugar production in Ukraine in 2020 is projected at 1.2 million tonnes, which is 15% less than a year earlier.
As of November 12, 2020, Ukrainian agricultural producers harvested 6.7 million tonnes of sugar beets from an area of 161,600 hectares (75%).

UKRAINE EXPORTS 18.7 MLN TONNES OF GRAIN SINCE START OF MARKETING YEAR

Ukraine since the beginning of the new 2020/2021 marketing year (MY, July-June) and as of November 16 had exported 18.74 million tonnes of grain and legumes, which is 3.6 million tonnes less than on the same date last MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, to date, 11.29 million tonnes of wheat, 3.51 million tonnes of barley and 3.58 million tonnes of corn were exported.
As of November 16 of this year, 65,500 tonnes of flour were also exported.
As reported, Ukraine exported a record 57.2 million tonnes of grain, legumes and flour in the 2019/2020 MY, which is 13.5% more than in the previous MY.

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LITHUANIAN COMPANIES INCREASE NUMBER OF REQUESTS FOR BUSINESS DEVELOPMENT IN UKRAINE

The number of requests from Lithuanian enterprises for business development in Ukraine, search for new partners has increased, Ambassador of Lithuania to Ukraine Valdemaras Sarapinas has said.
“From our own experience, we can say that now we see an increase in requests from Lithuanian enterprises for business development in Ukraine, searching for new partners. By the way, the same can be said about Ukrainian enterprises. We observe especially great potential in the introduction of electronic services, as Lithuania has vast experience in this area and is ready to share it with Ukraine,” Sarapinas told Interfax-Ukraine.
He also said that a reduction in the supply chain can also reveal new opportunities for both Lithuania and Ukraine.
“Lithuania can also become an excellent platform from which Ukrainian enterprises can significantly increase their exports to the West. By way of example, I can cite Kormotech company, which moved part of its activities to Lithuania, and this made it possible to take advantage of the EU financial policy and increase its competitiveness in Europe and other markets,” the diplomat said.
At the same time, Sarapinas said that Lithuanian business in Ukraine is faced with such problems as non-transparency of the judicial system, unequal conditions of competition, and administrative pressure on business.
“I am not a businessman, so I can only convey the position that I hear when communicating with our entrepreneurs: Lithuanian business, as, by the way, investors from other foreign countries or local Ukrainian entrepreneurs face the same problems, namely, the lack of transparency of the judicial system, different conditions of competition, administrative pressure on business. In the area of combating these problems, Lithuania and other Western partners are ready to share their experience,” he said.
The ambassador also said that there are several large Lithuanian companies that are now planning investment projects in Ukraine, however, negotiations are underway on this matter.
“It was recently announced that the Novus retail chain, which is operated by the BT Invest investment company, is buying 35 Billa stores. This is the fairly large investment: according to market analysts, the deal is worth about EUR 65 million. There are also few more large Lithuanian companies that are now planning investment projects in Ukraine, however, now it would be better to refrain from commenting, since negotiations are underway,” he said.

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UAE EMBASSY DONATES 5,000 COVID-19 TO UKRAINE

The wife of Ambassador of the United Arab Emirates Sheikh Al-Kaabi donated over 5,000 rapid tests for coronavirus (COVID-19) infection to Kyiv.
As deputy head of Kyiv City State Administration Maryna Khonda said, these tests will be transferred to Kyiv orphanages and nursing homes for the elderly.
“Unfortunately, the pandemic did not recede. In the spring, when the phase of strict quarantine was underway, an outbreak of coronavirus was detected in Darnytsia orphanage boarding school for girls. Fortunately, everything went well, but in order to prevent such outbreaks in the future, we need to quickly and promptly identify disease and respond to cases of infection. These rapid tests will be sent to Sviatoshyn and Darnytsia orphanages, as well as to Kyiv geriatric boarding house and Kyiv boarding house of labor veterans. Thus, we will be able to control outbreaks of COVID-19 among people who are in the so-called ‘risk zone’, and not to allow further spread. I am very grateful to the Embassy of the United Arab Emirates for this assistance,” the press service of Kyiv City State Administration said.
It is noted that 724 people live in these four institutions: in orphanages 239 children with disabilities aged from seven to 35 years of various disorders, in geriatric institutions 485 people of retirement age.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 17/11/20

National bank of Ukraine’s official rates as of 17/11/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF NOVEMBER 17

Official rates of banking metals from national bank as of November 17

One troy ounce=31.10 grams

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