KYIV. Sept 14 (Interfax-Ukraine) – The U.S. Department of Agriculture (USDA) in September revised downwards its forecast for sunflower production in Ukraine in 2017 by 500,000 tonnes compared to the August forecast, to 14 million tonnes.
According to a report on the USDA website, the projected sunflower oil production in 2017/18 agricultural year (September-August) was decreased by 172,000 tonnes, to 5.85 million tonnes and that for exports – by 150,000 tonnes, to 5.25 million tonnes.
The USDA predicted that sunflower cake in Ukraine in the new season would be 5.617 million tonnes and its exports – 4.7 millionn tonnes.
The USDA expects that in 2016/17 agri-year Ukraine will supply 5.65 million tonnes of sunflower oil to foreign markets with 5.977 million tonnes of produced oil.
KYIV. Sept 14 (Interfax-Ukraine) – Asset management company ResponsAbility Participations AG (Switzerland) has filed a package of documents to the National Bank of Ukraine (NBU) to agree on the acquisition of a non-controlling stake in Bank Lviv, the bank said on the website.
“Bank Lviv on September 12, 2017 submitted necessary documentation to the National Bank of Ukraine to agree on the investment of ResponsAbility Participations AG, a new strategic shareholder, an independent Swiss asset management company,” the report said.
Bank Lviv was registered in 1991. Its largest shareholder as of January 1, 2017 was New Progress Holding LLC (99.8857%), the largest beneficiary was citizen of Iceland Margeir Petursson.
Bank Lviv was the 44th among 88 banks operating in the country as of July 1, 2017 in terms of total assets (UAH 1.484 billion), according to the National Bank of Ukraine.
KYIV. Sept 14 (Interfax-Ukraine) – IMF First Deputy Managing Director David Lipton has said that Ukraine should take advantage of the growth of the world economy, the Ukrainian government’s press service has reported.
According to the report, Ukrainian Prime Minister Volodymyr Groysman met with Lipton in Kyiv on Wednesday.
According to Lipton, the world economy is growing now, and now it is a moment of opportunities for Ukraine that can and should be used.
He said that, in his opinion, Ukraine demonstrates good results in resolving the priority economic and social issues. According to Lipton, the fact that the government has managed to stabilize the situation over the past year creates good prerequisites for switching to more dynamic economic growth.
Groysman briefed Lipton about the situation with the implementation of educational, pension and medical reforms and the reform of the management of state-owned enterprises, as well as the drafting of the state budget for next year.
Following the talks on Wednesday, the sides agreed to continue cooperation to outline the next steps on the IMF’s financial support for reforms in Ukraine.
KYIV. Sept 14 (Interfax-Ukraine) – Ukraine’s Cabinet of Ministers has adopted the concept for the state program of developing farming in Ukraine proposed by the Ministry of Agrarian Policy and Food.
According to the announcement, the decision was made at a cabinet meeting in Kyiv on Wednesday.
The program aims to develop small and medium-size businesses in rural areas, create new jobs and develop rural areas in the country.
First Deputy Minister of Agrarian Policy and Food Maksym Martyniuk said realization of the program would in three years increase the amount of jobs in rural areas fivefold and would annually restore agricultural equipment by 10%.
“I hope reequipping will take place using domestically produced agricultural machinery and, to that end, propose a mechanism to promote same. If agricultural domestic machinery compensation is currently 20%, it will rise to 40% if offered by the Association of Farmers. This will stimulate demand as domestic agricultural machinery is cost competitive,” Martyniuk said.
Also planned under the concept are auctions for the right to rent land for orchards, vineyards, beekeeping and growing organic produce.
The concept is also aimed at stimulating the acquisition and merger of small farms.
KYIV. Sept 13 (Interfax-Ukraine) – Olam International Ltd. (Singapore) seeks to invest millions in construction of a port grain terminal in one of the Ukrainian ports, First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv has said.
“Ukraine continues attracting investors, such as Olam International, a transnational corporation from Singapore, among the founders of which is Mitsubishi Corporation. Earlier Olam acquired Bila Tserkva Elevator and seeks to invest millions in construction of a port grain terminal in one of the Ukrainian ports,” he wrote on his Facebook page.
Kubiv said that top managers of Olam Ukraine promises to publish the details of the project soon.
“Now they are confident in the incredibly attractive prospects of operation in Ukraine,” Kubiv said.
Earlier Deputy Head of the State Property Fund of Ukraine (SPF) Yuriy Nikitin told the Focus publication that Mitsubishi Corporation is interested in acquiring public joint-stock company Mykolaivoblenergo and public joint-stock company Khmelnytskoblenergo.
“We finally see the adoption of the bills our European and U.S. partners asked for – the bill on the National Commission for Energy, Housing and Utilities Services Regulation (NCER) and the legal base for RAB tariffs. The issue of introducing these principles is competence of the government and the regulator. We will appraise the stakes [in the regional power supply companies], taking into account all these factors. There is demand. For example, Mitsubishi is showing its interest in Mykolaiv and looking at Khmelnytsky,” Nikitin said.
Olam International is a leading agri-business operating from seed to shelf in 70 countries, supplying food and industrial raw materials.
Olam Ukraine was founded in 2005. It is a leading supplier of cacao beans and cacao products to local confectionaries and the largest exporter of grain and dry dairy products.
KYIV. Sept 13 (Interfax-Ukraine) – The Regional Development, Construction, Housing and Utilities Economy Ministry has predicted that next year the cost of construction of 1 square meter of apartments in Ukraine would grow by 27% compared to 2017, to UAH 12,200 (not taking into account temporarily occupied Crimea and Sevastopol).
The data is outlined in the order of the ministry on the forecast average annual derived cost of housing construction in the Ukrainian regions for 2018 (No. 195) dated August 9, 2017 and posted on the ministry’s website.
“To approve and recommend applying the forecast average annual derived cost of housing construction in the Ukrainian regions for 2018,” the ministry said.
According to the document, the cost of construction of one square meter of apartments in Kyiv in 2018 will grow to UAH 14,300 from UAH 11,300 in 2017, in Kyiv region – to UAH 12,300 from UAH 9,700.
Donetsk region with UAH 12,800, Kharkiv with UAH 12,800, Rivne with UAH 12,400, Cherkasy, Khmelnytsky and Lviv regions with UAH 12,000 each follow Kyiv region.
The smallest cost of one square meter of apartments is recorded in Zakarpattia region (UAH 10,600), Zhytomyr region (UAH 10,700), Ivano-Frankivsk region (almost UAH 11,000) and Kirovohrad region (UAH 10,600).
The order will enter into force from January 1, 2018.
