Unfavorable weather conditions in the south of Ukraine can affect the yield of barley, influence the gross yield of harvested barley and against the background of high world prices for the crop the barley market will experience the period of “price swing”, the experts of the analytical center of the cooperative “Start”, created within the framework of the All-Ukrainian Agricultural Council (AAR) said.
“Due to weather conditions in the south, low-nature grain is fixed, as well as the problem of lodging of barley, which will negatively affect the yield of the crop. This situation will contribute to an increase in barley prices, the world market is also in an upward trend. However with the start of harvesting we can expect a temporary reduction in demand and prices for barley,” explained the analysts.
According to their information, at present the indicative barley price is $130/t but in the near future it may rise to $145/t. Given the weather factors, the supply will not increase this week. A surge in barley can be expected after July 15, and before then a supply shortage could push prices up in the market.
“July will be an extremely volatile month in the barley market and the most unfavorable for sales: despite the fact that the low harvest will support prices, the marks risk to fall to $125/t. However, since August the growth of prices will start, which will reach at least $190-200 per ton, the maximum price level we will see in December,” forecasts the experts of “Pusk”, adding that after the recent uprising in Russia, world markets are more active and grain prices have increased.
Experts said that the biggest barley buyer now is China that plans to buy 7 million tons of barley. It contracts a lot from France, which will not be able to cover such volume on its own.
Ukrainian barley will be in demand in China, but logistics remains a problem area for deliveries from Ukraine,” the PUSK summarized.
The Cabinet of Ministers at its June 27, 2023 meeting approved a plan to transform the state-owned NNEGC Energoatom into a joint stock company with 100% of its shares owned by the state, the company reported in Telegram.
“This is another step in fulfilling Ukraine’s international obligations to bring the management of state-owned enterprises in line with the best international standards of corporate governance,” the NAEC commented.
According to the Ministry of Economy of Ukraine, during June-July 2023 a complete inventory of the property of the enterprise should be conducted and a company for an independent assessment of the property should be selected.
In November, the act of property assessment should be approved, drafts of government decisions on the approval of the transfer act of the property in the charter capital of the JSC should be prepared;
The issue of Energoatom shares is scheduled for December, while the process of transforming the state-owned enterprise into a JSC is expected to be completed by March 2024.
As reported with reference to Peter Kotin, president of Energoatom, NAEC expects to complete corporatization of the company, according to optimistic estimates, in six months, according to pessimistic estimates – in a year.
“There are a lot of processes going on right now and the main one is to conduct an inventory of all assets as well as to collect creditors’ appeals. This is not an easy procedure,” he said in mid-June.
At the same time, he specified that with regard to the Zaporizhzhia NPP occupied by the Russian invaders “we will use the preliminary, pre-war inventory data for now, and then (when the plant returns under the control of Ukraine – IF-U) we will adjust”.
At the beginning of May the Cabinet of Ministers started the procedure for reorganization of the state enterprise by means of its transformation into the National Atomic Energy Generating Company Energoatom JSC, 100% shares in the authorized capital of which belong to the state and are not subject to privatization or alienation by other means.
The Cabinet of Ministers also created a commission for Enerhoatom’s transformation and approved its composition, set a two-month deadline for lenders to file their claims against the company, and formed an inventory commission.
Before that, on March 17, 2023, President Vladimir Zelenski signed the law “On the peculiarities of formation of the joint stock company NAEK Energoatom.
“Energoatom” is the operator of all four operating NPPs in Ukraine. It operates Zaporizhzhya, Pivdenno-Ukrainian, Rivne and Khmelnitsky plants with 15 power units equipped with water-water power reactors, with a total installed electric capacity of 13.8 GW. The 6GW ZNPP has been under Russian occupation since May 4, 2022.
Educational platform Prometheus and the European Bank for Reconstruction and Development (EBRD) open the program “Bootcamp economic recovery” with 60 thousand grant places for training of Ukrainian entrepreneurs, the co-founder of Prometheus Ivan Primachenko in Facebook reported.
According to the message, Ukrainian entrepreneurs will be taught by Harvard, the University of Virginia’s Darden Business School and Rice University, as well as the co-founders of Novaya Poshta, Preply, Eugene Klopotenko and other leading entrepreneurs in Ukraine.
The program includes four courses: “How to Start Your Own Business in Times of Uncertainty: A Step-by-Step Guide from Ukraine’s Top Entrepreneurs”; “CS50: Fundamentals of Programming for Business Professionals” from Harvard University; “Grow to Greatness: Smart Growth for Private Business” from the Darden Business School at Virginia Tech; and “Finance for Non-Financial People” from Rice University.
“I haven’t yet seen top American universities open their business courses for free, and in a different language. This is a unique chance that should be taken here and now,” Primachenko wrote.
Registration for the Economic Recovery Bootcamp program is open from today at https://prometheus ua/prometheus-plus/bootcamp).
Oil prices are rising Wednesday on data from the American Petroleum Institute (API) on sharper than expected U.S. inventory declines.
According to API, they fell by 2.41 million barrels in the week ended June 23. Experts polled by Trading Economics forecasted an average decline of 1.47m barrels.
The official data on oil reserves for the previous week will be released by the U.S. Department of Energy on Wednesday at 5:30 p.m.
Brent August futures on London’s ICE Futures Exchange stood at $72.59 a barrel by 8:10 a.m. Wednesday, up $0.33 (0.46%) from the previous session’s close. Those contracts fell $1.92 (2.6%) to $72.26 a barrel on Tuesday.
The price of WTI futures for August at electronic trades of NYMEX grew by $0.22 (0.32%) to $67.92 per barrel by that time. The day before these contracts fell by $1.67, or 2.4%, to $67.7 per barrel.
The oil market ends the second quarter of 2023 in the negative, due to the slower-than-expected recovery of the Chinese economy after the lifting of quarantine restrictions. Fears of recession in the U.S. and Europe amid tightening monetary policy by the Federal Reserve and the European Central Bank also put pressure on the market.
Statistical data released on Tuesday, however, show that the U.S. economy remains resilient despite the Federal Reserve’s restrictive policy. The nation’s consumer confidence index rose in June to its highest since January 2022, and new-home sales in May were the highest since last February.
“The strong economic statistics we saw yesterday increase the likelihood of a further Fed rate hike,” notes Warren Patterson, who is in charge of commodities strategy at ING Groep NV. – This is the moment when good news is bad news for the market.
The Kyiv Economic Court found Khladoprom Ice Cream Factory LLC guilty of distribution of untruthful information about the composition of its product and fined it UAH 1.37 million. The court rejected its claim to cancel the decision of the Antimonopoly Committee (AMCU) that the company violated the legislative requirements for product labeling.
As reported on AMCU’s website on Monday, while considering case #470-r dated December 30, 2022, the AMCU discovered that FM Khladoprom LLC, which produces more than 27 kinds of ice cream, in particular under the names Khreshchatyk, Kashtan, Khladik, Artek, Voloshkovoye Pole and others, had included information on the content of cow’s milk in its ice cream packaging.
The regulator found that in September and November 2020, the company did not purchase cow’s milk and therefore did not use it in making the ice cream “plombier,” but replaced it with skim milk powder.
“Drinking cow’s milk and powdered milk are not identical components, because these raw materials are produced under different technical conditions. Accordingly, the information distributed by the manufacturer on the composition of his product is false, whereas, according to the legislation, the labeling of all products should indicate only the ingredients that were actually used in their manufacture”, reminded the AMCU.
He pointed out that the placement of information on the packaging of ice cream that it contained drinking cow’s milk, which was not used by the company during the production in September and November 2020, was misleading for consumers.
Khladoprom Ice Cream Factory LLC tried to appeal against the regulator’s decision in court, but on 22 June 2023 the Kyiv Court of Justice dismissed the claim and upheld the AMCU’s decision, finding the company in breach of unfair competition legislation and imposing a UAH 1.37 million fine.
President of the Republic of Lithuania Gitanas Nausseda has arrived in Kiev on Wednesday, June 28, with an unannounced visit, according to the press service of the head of state.
Nausseda will meet with Ukrainian President Vladimir Zelenski and take part in an event marking the 27th anniversary of the Ukrainian Constitution.
The Lithuanian head of state will discuss with the Ukrainian president the agenda of the NATO summit to be held in Vilnius in July, as well as the negotiation of Ukraine’s membership in the European Union, the assistance of Lithuania and the European Union to Ukraine.
“The president arrived in Kiev from The Hague, where yesterday at a meeting of heads of seven states discussed further support for Ukraine. From Kiev, the Lithuanian president will travel to Brussels, where a meeting of the Council of European Leaders will begin on Thursday,” the report said.
