Agrofusion, the largest Ukrainian vertically integrated producer of tomato paste, intends in the current year to launch a tomato powder factory in Snihurivka (Mykolaiv region), company financial director Ivan Sakal has said. “We are building a factory for production of tomato powder in Snihurivka this year. This is a very popular product. Now we are discussing this with international financial institutions. We hope to start building the fourth tomato processing plant in three years. Four plants to produce tomato paste is probably the best number,” he told Interfax-Ukraine after the opening of the Business Integrity Week in Kyiv.
Sakal said the company is considering the possibility of investing UAH 2 billion in the fourth tomato processing plant.
“The volume of funds the company invests in development this year is being discussed with our financial partners. I think investment will amount to UAH 1.2-1.3 billion,” he said.
At the same time, according to Sakal, the company increased plans for processing tomatoes to 750,000 tonnes, whereas earlier Agrofusion planned to grow and process 630,000 tonnes of tomatoes. Agrofusion is a vertically integrated group of companies producing tomato paste (under the Inagro trademark) in Ukraine. It was founded by businessman Serhiy Sypko in 2007.
Ukrainian Flour Company LLC (Cherkasy region) plans to open four representative offices in the Central African Republic, Chad, Cameroon and Benin, the company’s press service has reported. “Now our company is working on the creation of four full-fledged representative offices in various countries of Africa. We are now at the stage of negotiations with the government and commercial organizations of these countries. Simultaneously we are agreeing all documents and licenses necessary to carry out the activities of Ukrainian Flour Company in each country,” the press service said.
The company said the pilot shipments of products have already been sent to consumers in these countries. The total volume of these trial shipments is 400 containers or 10,000 tonnes.
Representative offices are set up to ensure the fulfillment of the company’s export plans, a high level of customer service, including the financial efficiency of export operations, increasing commercial load and foreign exchange earnings, conducting marketing research in the international flour market, organizing and conducting commercial and promotional activities in the territories of other countries.
Ukrainian Flour Company was established in 2017. It produces goods under the trademark Korolivske Boroshno. It exports flour to China, Moldova, Israel, Palestine, the Philippines, Angola, Georgia, the United Arab Emirates, Malaysia, and other countries.
AFRICAN REPUBLIC, BENIN, CAMEROON, CHAD, FLOUR COMPANY, REPRESENTATIVE OFFICES
The European Bank for Reconstruction and Development (EBRD), following the results of a tender, has attracted the National Law Center for Inter-American Free Trade (NatLaw) as an external adviser for the development of the warehouse receipt market in Ukraine.
The press service of the National Commission on Securities and the Stock Market said the regulator and NatLaw this week will hold a number of meetings with representatives of the capital market and specialists of state bodies to discuss supervision over the circulation of warehouse receipts in Ukraine, the certification and standardization of activities of depositories, the formation of guarantee funds, etc.
“Following the meetings, proposals will be developed to improve the legislation on warehouse receipts and recommendations how to improve the effectiveness of such a system will be made,” the document says.
The regulator said the system of warehouse receipts is a very important element in the efficient functioning of commodity exchange markets. At the same time, this instrument currently has limited application in Ukraine due to its functional shortcomings and is used only in the agricultural sector.
NatLaw is an American non-profit organization. In particular, it is engaged in providing consultations on regulatory reforms.
One troy ounce=31.10 grams
Ukraine has received the right to export beef to the Turkish market, according to the State Service of Ukraine for Food Safety and Consumer Protection.
This decision was made following the results of work of the technical mission of the directorate general for protection and control of the Ministry of Food, Agriculture and Livestock of Turkey on assessing state control over beef production, which operated in Ukraine in late April 2018.
Turkish inspectors audited the system of state control over production of beef in Ukraine and inspected slaughter enterprises that are interested in exporting their products to Turkey.
At the same time, the service notes that work on agreeing the form of a veterinary certificate for exports of Ukrainian beef to Turkey is currently at the final stages.
