Business news from Ukraine

Business news from Ukraine

Ukraine provided more than 99% of soybean imports to Moldova in three years

In the period from 2022 to January-March 2025, Moldova imported 99.22% of soybeans from Ukraine, which supplied 56.64 thsd tonnes of the total imports of 57.08 thsd tonnes, according to the Moldovan online resource agroexpert.md.

According to the report, the total trade turnover for the analyzed period amounted to 71.42 thsd tonnes, including 79.9% of imports and 20.1% of exports of domestic beans.

Ukraine was the leader in the supply of soybeans throughout the analyzed period. In 2022, it accounted for 99.99% of imports (14.84 thsd tonnes), in 2023 – 97.19% (10.08 thsd tonnes), in 2024 – 99.50% (30.20 thsd tonnes), and in the first quarter of 2025 – 9%.

Other importing countries had a much smaller share. Thus, Germany ranked second with a share of 0.39% of total imports (0.22 thousand tons), with all imports from this country in 2023. Romania is on the third place with the share of 0.26% (0.15 thsd tonnes), the main volume of imports from this country was in 2024.

At the same time, Moldova exported soybeans to 10 countries in 2022-January-March 2025 and totaled 14.34 thsd tonnes.

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SPFU calls on National Agrarian Academy of Sciences to provide information on 1736 land plots

The State Property Fund of Ukraine (SPFU) has called on the National Agrarian Academy of Sciences (NAAS) to be transparent and engage in dialogue and insists on providing information on 1736 land plots with a total area of 135,000 hectares and their actual use for scientific purposes, the agency reported on Facebook.

“There is no “seizure” of land. We are talking only about the transfer of part of the land that is not used or is used inefficiently to the state enterprise “Reserve” for transparent management. These lands are not being sold, privatized or withdrawn from state ownership,” the SPF emphasized.

At the same time, the Fund reminded that the State Enterprise “Reserve” is the second operator of the Land Bank project, which was created to effectively transfer state land for use on a competitive basis through the Prozorro.Sale system. Its creation is envisaged by the state strategy, as the State Land Bank LLC cannot obtain such land for permanent use – according to the law, only a state-owned enterprise can do so. In the future, the State Enterprise “Reserve” will be merged with similar structures into a single state land bank.

The SPF noted that they do not intend to withdraw land plots from the National Academy of Agrarian Sciences that are actually used for field research, breeding, livestock production or training. It is also not about land plots owned by educational institutions, but only about land used by the National Academy of Sciences, but without confirmation of their scientific purpose.

The SPF emphasized that productivity does not mean hectares, but results, and cited as an example the UAH 3.4 billion received by the National Academy of Agrarian Sciences in 2024 from 276 thousand hectares of land used by the academy.
“This is several times lower than the indicators of an efficient private sector. At the same time, most of the profits are generated not through science, but through commercial farming, which sometimes has nothing to do with research,” the State Property Fund emphasized.

He reminded that land is a national resource and it should work in the interests of the state, especially in times of war when the budget needs financial revenues.
“We cannot afford to keep thousands of hectares for ‘scientific needs’ that are not supported by objective activity,” the SPF emphasized and called on the National Academy of Sciences to be transparent and engage in dialogue.

The SPF analyzed the NAAS lands and identified 1736 plots with a total area of 135 thousand hectares for transfer to the Land Bank. Another 69 thousand hectares have real estate or are unsuitable for investment. This data was submitted to the National Academy of Agrarian Sciences in May 2024 for clarification. However, in 10 months, only one response was received from the NAAS – on the transfer of 65 thousand hectares, of which 50 thousand hectares are under occupation, and 7 thousand hectares are actually suitable.

Due to the NAAS’s refusal to cooperate constructively, the SPF decided to include all plots without real estate in the Land Bank project to stop the shadow use of land that does not benefit the state. The NAAS should provide a clear and reasoned list of enterprises and plots that they really need. The Foundation called the NAAS’s opposition an attempt to maintain control over abandoned assets under the slogan “science and development.”

“Our goal is to make state land a source of budget revenues, job creation, support for the army and reforms. We are building a new institution for managing Ukraine’s strategic resources – orderly, accountable and open,” the SPF summarized and called on the National Academy of Sciences to share this state approach.

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Exports of ferroalloys from Ukraine increased 40 times

In January-March this year, Ukraine increased its exports of ferroalloys in physical terms by 40.3 times compared to the same period last year, up to 27.678 thousand tons from 687 tons.

According to statistics released by the State Customs Service (SCS) on Tuesday, exports of ferroalloys increased 12.2 times in monetary terms to $29.540 million.

The main exports were to Algeria (35.15% of supplies in monetary terms), Poland (33.63%) and Italy (12.66%).

In addition, Ukraine imported 10.990 thousand tons of these products in 3 months of 2025, a decrease of 58.2% compared to the first quarter of 2024. In monetary terms, imports fell by 53.2% to $19.383 million. Imports were carried out mainly from Norway (23.64%), Georgia (17.05%) and Kazakhstan (15.10%).

As reported, Pokrovsky Mining and Processing Plant (PGOK, formerly Ordzhonikidze Mining and Processing Plant) and Marganetsky Mining and Processing Plant (MGOK, both in Dnipropetrovska oblast), both part of Privat Group, stopped mining and processing of crude manganese ore in late October and early November 2023, while NFP and ZFP stopped smelting ferroalloys. In the summer of 2024, ferroalloy plants resumed production at a minimal level.

In 2024, Ukraine reduced exports of ferroalloys in physical terms by 4.45 times compared to 2023 – to 77.316 thousand tons from 344.173 thousand tons, while in monetary terms, exports decreased by 3.4 times – to $88.631 million from $297.595 million. The main exports were to Poland (27.40% of supplies in monetary terms), Turkey (21.53%) and Italy (19.82%).

In addition, last year Ukraine imported 82.259 thousand tons of these products compared to 14.203 thousand tons in 2023 (an increase of 5.8 times). In monetary terms, imports increased by 3.3 times to $140.752 million from $42.927 million. Imports were carried out mainly from Poland (32.71%), Norway (19.55%) and Kazakhstan (13.90%).

Prior to the nationalization of the financial institution, PrivatBank organized the business of ZZF, NZF, Stakhanovsky ZF (which is on the NKT), Pokrovske and Marganetske GOKs. Nikopol Ferroalloy Plant is controlled by EastOne Group, created in the fall of 2007 as a result of the restructuring of Interpipe Group, and Privat Group.

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EU increased imports of agricultural products from Ukraine by 11% in 2024 to €13 bln

In 2024, Ukraine increased its exports of agricultural products to the European Union by 11%, according to the EU’s report on trade in such products last year.

“The EU continued to import agricultural food products from various trading partners, with Brazil, the United Kingdom, and Ukraine being the main sources. Imports increased from Côte d’Ivoire, Ukraine and Nigeria, while they decreased from Russia and Australia,” the report, the full text of which is published on the European Commission’s website, says.

According to the published statistics, Ukraine was the third source of imports of agri-food products to the EU in 2024 (8% of the total value of imports). Agricultural imports from Ukraine to the EU increased by 11% compared to 2023 (+EUR1.3 billion) and reached EUR13 billion. This was mainly due to an increase in the share of two key commodities in imports: vegetable oils (EUR3 billion in 2024, +EUR946 million compared to 2023), and oilseeds and protein cereals (EUR3.1 billion, +EUR709 million).

At the same time, imports of Ukrainian grains to the EU decreased by 12% in value (to EUR 4.5 bln) due to lower prices, but their volume increased by 6% year-on-year.

At the same time, the total volume of European agricultural imports in 2024 reached a record high of EUR171.8 bln (+8% compared to 2023, or +EUR12.4 bln).

In terms of consumption of European agricultural exports, Ukraine ranks 13th with EUR3.634 billion, which is about 2% of the EU’s total agricultural exports (EUR235.4 billion). At the same time, in terms of consumption of European imported agricultural products, Ukraine showed an increase of 5% compared to 2023, when the country imported agricultural products worth EUR3.461 billion from the EU.

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Coke imports to Ukraine increased by 90% in first quarter

In January-March this year, Ukraine increased imports of coke and semi-coke in physical terms by 90.3% year-on-year to 212,366 thousand tons from 111,600 thousand tons.

According to statistics released by the State Customs Service (SCS) on Tuesday, coke imports in monetary terms increased by 59.2% to $68.025 million during this period. It was imported mainly from Poland (84% of supplies in monetary terms), Indonesia (14.06%) and the Czech Republic (1.92%).

Ukraine did not export coke in the period under review.

As reported, Metinvest suspended the Pokrovske Coal Group in January this year due to changes in the situation on the frontline, electricity shortages and the deteriorating security situation.

Last year, Ukraine increased imports of coke and semi-coke in physical terms by 2.01 times compared to 2023, to 661.487 thousand tons, mainly from Poland (84.76% of supplies in monetary terms), Colombia (7.74%) and Hungary (2.69%). In monetary terms, imports increased by 81.9% to $235.475 million.

In 2024, the country exported 1,601 thousand tons of 84.76% coke for $368 thousand to Moldova (99.18%) and Latvia (0.82%), while in January, March, October and November 2024, there were no exports, while in 2023, exports amounted to 3,383 thousand tons for $787 thousand.

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Switzerland to double funding for Ukraine’s recovery projects

First Vice Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko and Ambassador Jacques Gerber, delegate of the Swiss Federal Council for Ukraine, signed an agreement amending the memorandum of understanding between the Ministry of Economy of Ukraine and the Swiss State Secretariat for Economic Affairs (SECO), which provides for a doubling of funding for recovery projects in Ukraine to CHF100 million.

As the press service of the Ministry of Economy reported on Tuesday, the document formalizes the decision of the Swiss Confederation to increase support for the competition for projects to restore Ukraine. The competition is open to Swiss companies that are already operating in Ukraine and can help in its recovery.

According to both sides, the interest of businesses was so high that they decided to double the funding at once.

“The high interest from Swiss business is a clear signal that our intergovernmental agreements are working. The additional CHF50 million will be allocated to projects in the areas of civilian protection, infrastructure restoration and development of the public utilities sector, as well as the modernization of public services. We are particularly interested in developing cooperation in the fields of energy, transport, housing, water supply, healthcare, industrial engineering, and education,” the press service quoted Svyrydenko as saying.

It is noted that the signed agreement opens up new opportunities for the implementation of joint projects under the intergovernmental initiative, which was launched in early 2025. The allocated funds are part of a broader CHF1.5 billion assistance program for Ukraine from Switzerland for 2025-2028. In total, Switzerland plans to invest CHF5 billion in a 12-year support program.

According to Jacques Gerber, the decision to increase funding is the result of close and trusting cooperation between Ukraine and Switzerland.

“Last week I visited Chernihiv, and last year I saw the scale of destruction in Kharkiv. Ukraine’s needs for recovery and reconstruction are enormous. At the same time, Swiss companies continue to operate in Ukraine despite all the challenges. They create jobs and pay taxes to the state budget of Ukraine. They also want to contribute to the country’s recovery,” Gerber explained.

The Ministry of Economy recalled that a memorandum of understanding between the Ministry and SECO on the implementation of a competition for projects for the economic recovery and reconstruction of Ukraine in cooperation with Swiss companies was signed on January 23, 2025, during the World Economic Forum in Davos.

The Ministry of Economy added that Switzerland is one of Ukraine’s key partners in the construction process. In April 2014, the Swiss government announced a program of long-term support for Ukraine totaling 5 billion francs for 12 years.

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