Business news from Ukraine

VERKHOVNA RADA’S AGRARIAN COMMITTEE RECOMMENDS PARLIAMENT TO EXTEND MORATORIUM ON FARMLAND SALES TO 2020

The Verkhovna Rada’s committee on agrarian policy and land relations has recommended the parliament adopt draft law No. 9355-5 on extending the moratorium on the sale of agricultural land until January 1, 2020, Oleh Kulynych, who chairs the committee’s subcommittee on land relations, said on Facebook. He said the committee at a meeting on December 18 considered 16 registered bills relating to the extension of the moratorium on the sale of agricultural land. The bills offered different dates for lifting the moratorium from April 22, 2019 to January 1, 2030.
“I consider the optimal term to be one year, as proposed by bill No. 9355-5 … As the chairman of the land subcommittee, I proposed to support draft law No. 9355-5 and recommend the parliament adopt the bill as law,” Kulynych said.
The draft law provides that the Cabinet of Ministers by March 1, 2019 develop and submit a draft law on the turnover of agricultural land to the Rada.

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ROSHEN CONFECTIONERY WILL INVEST UAH 160 MLN IN FACTORY RECONSTRUCTION

Roshen Corporation will allocate UAH 160.4 million for the second stage of reconstruction of Kyiv Confectionary Factory Roshen, PrJSC Kyiv Confectionery Factory Roshen said in the information disclosure system of the National Commission on Securities and the Stock Market. According to the company, the funds will be used for landscaping the territory with the arrangement of a fountain in the territory of the confectionery factory at 1 Nauky Avenue in Holosiyivsky district of the capital. The general contractor of the work is European Construction Technologies LLC.
As reported, Roshen in 2018 announced the investment of UAH 90 million in the creation of a public space in the territory of the factory. The provisional name of the reconstruction project is Roshen Plaza.
According to the company, the factory does not cease to exist, but its capacity is reduced. Part of the production premises will remain in the factory’s territory, the company’s office and public facilities will be located in one of the buildings.
Roshen Corporation is one of the top 30 largest confectionery manufacturers in the world.
The Roshen network in Ukraine includes 50 stores in five regions of Ukraine. The first one opened in Kyiv in 2009. The corporation annually opens five or six stores.

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DANISH JYSK EXPANDS NETWORK IN UKRAINE

JYSK Ukraine LLC (Kyiv), developing a network of JYSK furniture and household goods stores in Ukraine, will open the fifth store in Odesa, thus expanding the network in the country to 48 stores. According to the company’s press release, the store with an area of 990 square meters will open in the City Center shopping center in Odesa on December 20.
The facility will operate in the new 3.0 format for the JYSK network: it provides more space, light, an expanded assortment and updated cash desk zones.
“The 3.0 format was introduced in September. And now there are two such stores in Odesa. We took a good pace: 11 JYSK stores were opened in 2018, four of which are in the new format. Next year we will continue to dynamically expand the network in different regions of Ukraine,” Executive Director of JYSK in Ukraine Yevhen Ivanytsia said.
As reported, JYSK Ukraine plans in 2018 to open up to 12 new outlets in the country.
The JYSK network began to develop in Ukraine in 2004. As of November 29, 2018, the network had 47 stores in 20 cities, as well as an online store.

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UKRAINE WILL INCREASE WHEAT EXPORTS IN 2019

Wheat production in Ukraine in 2019 will remain virtually unchanged, while exports will increase by 2 million tonnes, to 18 million tonnes, President of the Ukrainian Grain Association Mykola Horbachev has said. “Next year, wheat production will be at the same level – perhaps 1 million tonnes more, everything depends on weather. We expect more favorable conditions for yields, so we expect exports to reach 18 million tonnes this year 16 million tonnes,” he said.
According to him, the harvest and export of other grain crops next year will be almost at the level of this year, except for corn: this year Ukraine has collected a record high harvest of 35 million tonnes of corn due to high yields because of weather conditions, while with normal yields next year production will be 27 million tonnes.
The association president noted that the main importers of Ukrainian grain are the EU countries (in particular, Spain), North Africa and Asia. At the same time, in his opinion, with the increase in production, an additional volume of grain will go to Asia, where there is a large population growth (in particular, to China, Indonesia and India), whereas a large expansion on the European continent should not be expected.

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