According to EastFruit analysts, as of the beginning of 2025 compared to the same period of 2024, prices for most types of fruits and vegetables in the Ukrainian market increased. However, there were also such positions, for which prices decreased. At the same time, the average rate of price growth for fruit and vegetable products did not differ significantly from the annual inflation rate, which indicates stabilization of the fruit and vegetable market.
Among the champions in terms of price growth rates in 2024 were cabbage, carrots and apples. Cabbage rose in price three times or more during the year due to a decrease in production volumes and low quality of products. Wholesale prices for carrots increased almost 2.6 times and reached UAH 26/kg ($0.61) as of the beginning of January 2025. Apple has increased in price by an average of 79% and is now sold in bulk for 25-28 UAH/kg, which is also equivalent to about 60 US cents. Premium quality apples are sold much more expensive.
“Apple prices have risen sharply in all European countries due to significant crop losses due to unfavorable climatic conditions. Another reason for the price increase is high prices for apple concentrate, supporting high prices for low quality apple as well. Accordingly, the fresh apple market lost the most affordable segment, which allowed the prices for medium and high quality apple to increase,” says Andriy Yarmak, FAO economist.
Similar to apple was the situation for pears, which rose in price by an average of 70% on the Ukrainian market over the year.
Mandarins are another item, for which there was a high increase in prices. The reasons were discussed in detail in this material. In Ukraine, the prices for these fruits increased by 58% over the year.
For other key positions the following price growth was observed: sweet pepper and grapes – 20%, potatoes – 30%. At the same time, prices for onions and greenhouse tomatoes did not change over the year, and greenhouse cucumbers fell in price by an average of 5% over the year. Wholesale prices for bananas decreased most significantly – by 8%.
Ferrexpo plc, a mining company with major assets in Ukraine, produced 6 million 70.541 thousand tons of pellets in 2024, up 58% from 3 million 845.325 thousand tons in 2023.
According to a press release on Thursday, Ferrexpo produced 1 million 503.373 thousand tons of pellets in the fourth quarter of 2024, up 18% quarter-on-quarter (1 million 269.727 thousand tons).
At the same time, the total production of marketable products (pellets and iron ore concentrate) in 2024 increased by 66% compared to 2023, to 6 million 889.879 thousand tons from 4 million 152.028 thousand tons. In particular, the output of saleable concentrate amounted to 819,338 thousand tons compared to 306,703 thousand tons in 2023. The company also produced 489,720 thousand tons of DR pellets, 4 million 984,990 thousand tons of premium pellets and 595,831 thousand tons of other pellets.
The press release notes that during the fourth quarter, the group successfully operated two pelletizing lines (out of four) despite power outages, and paid special attention to the production of higher quality pellets and high-quality concentrate.
As of December 31, 2024, the group’s net cash position was approximately $99 million (December 31, 2023: $108 million) with minimal lease obligations, subject to possible adjustments at the end of the year, and no debt.
The company was re-admitted to the FTSE 250 index at the end of December.
Commenting on the group’s performance, Lucio Genovese, interim chairman, said that in 2024 the company had its best annual production performance since the start of the full-scale invasion in 2022.
“The increase in production reflects our ability to regain access to Ukraine’s Black Sea ports and resume exports to customers in the Middle East and North Africa (MENA) and Asia. In total, 37 ocean-going vessels were loaded in 2024, including 32 vessels from Ukraine and five from other ports, compared to only 19 (from Romania) in 2023. The higher level of production also reflects the flexibility we have built into the business, producing a wider range of products,” Genovese said.
He also emphasized one of the highlights of 2024 – a new annual record for DR pellets production. These higher quality pellets bring higher revenues to the company, which is especially important as the group continues to face high production costs.
In addition, production of high quality pellets and concentrate increased in the fourth quarter, which helped to reduce the fixed cost base as production levels increased.
“The group’s ability to produce a diverse range of products and sell them to a broader customer base has helped in the current environment. However, the continued impact of lower iron ore prices and higher raw material costs put pressure on profitability in the fourth quarter. Due to further attacks on Ukraine’s power grid, we continue to have to import electricity from the EU at higher tariffs,” Genovese emphasized.
As reported, Ferrexpo produced 3.845 million tons of pellets in 2023, down 36.5% from 2022.
Ferrexpo owns a 100% stake in Yeristovo Mining, 99.9% in Bilanivsky GOK and 100% in Poltava Mining.
This is 1.7 times more than in the same period in 2023
Ukrainian banks paid UAH 44.52 billion in income tax for 11 months of 2024, according to the National Bank of Ukraine. This is already 1.7 times more than in the same period in 2023. Of this amount, a record UAH 7.05 billion was paid in November 2024, after the tax rate was increased from 25% to 50%.
More than UAH 44.5 billion in income tax is due from 62 Ukrainian banks for the first half of 2024. This is already 1.7 times more than in the same period of 2023. Last year, the tax for banks was also increased in the last quarter.
Banks paid the largest amount of taxes for the year so far in November: UAH 7.05 billion. More than half of this amount – UAH 4.47 billion, or 63% – was paid by banks with foreign capital.
Overall, banks’ profit before taxes amounted to UAH 175.6 billion. This is a 12% increase compared to the same period in 2023.
11 banks suffered losses of UAH 388 million. Currently, 18% of Ukrainian banks are unprofitable.
https://opendatabot.ua/analytics/banks-2024-11
On December 20, 2024, the International Finance Corporation (IFC) of the World Bank Group signed documents to provide a $53.87 million loan to Concern Galnaftogaz to finance the construction of a 147 MW wind farm in Volyn region and technical support.
According to the IFC website, the total cost of the project is estimated at EUR261 million (including VAT), with a 16-year loan provided to the established project companies Wind Power G&I Volyn LLC and Wind Power G&I Volyn 3 LLC, controlled by GNG Retail Limited and its subsidiary Concern Galnaftogaz (together – GNG Group).
It is noted that the project involves the attraction of mixed financing, in particular from the UK-FCDO and EC-UIF, as well as the Clean Technology Fund.
Earlier, on December 4, participation in the project was also approved by the European Bank for Reconstruction and Development (EBRD), which has also already signed documents to provide the above-mentioned LLCs with a long-term loan of EUR 60 million for the construction of a 147 MW wind farm in the Volyn region.
The wind farm is expected to produce about 380 GWh (380 million kWh) of renewable electricity with zero carbon emissions annually.
In February 2024, the Antimonopoly Committee of Ukraine (AMCU) allowed GNG Retail Limited (Cyprus) to buy more than 50% of the authorized capital of Wind Power G&I Volyn LLC and Wind Power G&I Volyn 3 LLC. According to open registers, GNG Retail Limited owns 89.5% of the two LLCs, and JSC ZNVKIF Rimini (in which Vitaliy Antonov owns 83.19%) owns 10.5%.
OKKO CEO Vasyl Danyliak announced the start of construction of a wind farm in Volyn region in the fall of 2024. He explained the group’s plans to work in the renewable energy sector by the need to diversify its business, as the fuel market no longer foresees growth.
“Galnaftogaz operates one of the largest networks of OKKO filling stations, which includes more than 400 complexes with a network of catering facilities. The group also includes other businesses.
Vitaly Antonov’s GNG Retail Limited owns 90.25% of Concern Galnaftogaz shares. In October 2024, Avalia Investments Limited (Cyprus) of the founder and chairman of Concorde Capital, Igor Mazepa, became the owner of another 7.35% of the shares.
The work of the Unified State Register of Legal Entities, Physical Entrepreneurs and Public Formations (USR) will be resumed on Thursday, January 9 after a large-scale cyberattack by Russia, the Ministry of Justice of Ukraine reports.
“Tomorrow will resume electronic information interaction with government agencies – the State Tax Service, the State Statistics Service of Ukraine, the Pension Fund of Ukraine, the Ministry of Digital Transformation and other agencies that use the data of the UGR in their activities,” it said.
In particular, a number of online services with the help of the application “Diya” will work. Such functions as free search of information in the register, formation of extracts, obtaining the results of administrative services by access code, access of state bodies to the information of the register through access identifiers will resume work on the UGR portal.
“Our team continues to work on the restoration of other registers. We know how important to you the convenience of access to public services and their smooth operation. Therefore, together with the Cyber Police, the Cyber Department of the SBU, the State Spetsvyaz and specialists of the National Information Systems, we are doing everything possible not only to resume the work of the registers, but also to strengthen their protection. Your trust is our responsibility and an incentive to work even harder,” the ministry emphasized.
As reported, the website of the Ministry of Justice of Ukraine restored work on Wednesday.
On December 20, Stefanyshyna said that all data in the registers will be restored, but it will take some time, then she estimated it at about two weeks.
In comments on the Facebook page of the Ministry of Justice, readers are asking for the real estate registry and executive services to resume work as soon as possible.
The Supreme Court of Ukraine (SCU) has ruled that hookahs in restaurants are a promotion of tobacco products, and therefore hookahs are absolutely prohibited in restaurants, regardless of their composition.
In this way, the Ukrainian judiciary has defended the right of citizens to health in order to strengthen the fight against the tobacco epidemic.
Since 2012, advertising and promotion of tobacco products, including hookah tobacco, have been banned in Ukraine. Despite this, unscrupulous business entities provided hookah services, which by definition is a form of advertising and promotion of tobacco sales.
The Supreme Court of Ukraine, having considered the cassation appeals of the Main Department of the State Service of Ukraine on Food Safety and Consumer Protection in Kyiv in cases No. 320/29317/23 and No. 320/23655/23, issued decisions confirming the legality of the imposition of financial sanctions by the State Service of Ukraine on Food Safety and Consumer Protection on business entities for stimulating the sale of tobacco products by providing hookah services, which are violations of Article 16 of Law 2899-IV.
The Supreme Court notes: “The provision of hookah services by an establishment should be considered as a promotion of tobacco products and tobacco use, even if there is no direct advertising of the product.”
In addition, it is prohibited to place information about hookah services on the menu: “The placement of information about tobacco products or related services in the menu of a restaurant establishment or on posters falls under the prohibition of advertising and promotion of tobacco products, trademarks for goods and services.”
Thus, restaurant establishments are not allowed to provide hookah services at all. Theposting of information about tobacco products and items related to their use is prohibited (except for one poster no larger than 40×30 cm per point of sale, which provides textual information printed in black on a white background about tobacco products available for sale and their prices).
The above positions of the Supreme Court are fully consistent with international standards, in particular the WHO Framework Convention on Tobacco Control, the WHO FCTC Guidelines and Directive 2014/40/EU, which prohibit any advertising of tobacco products, including hookah tobacco and hookah accessories.
The Law No. 2899-IV stipulates that violation of Article 16 is punishable by a fine of UAH 30 thousand, and in case of repeated violation within a year – UAH 50 thousand for each fact of advertising on a separate advertising medium or each separate event to promote the sale of tobacco products.
“The decision of the Supreme Court is extremely important as it confirms that the actions of the State Service of Ukraine on Food Safety and Consumer Protection in preventing advertising and promotion of tobacco products through hookahs are in line with the law. Thus, we see in action that the health of citizens is a priority for the state and it is able to defend it,” emphasized Dmytro Kupyra, executive director of the NGO ‘Life’.
Hookah smoking is dangerous for the health of both smokers and people around them, as hookah smoke contains a high concentration of toxic substances and carcinogens. The World Health Organization emphasizes: 1 hour of hookah smoking can be equal in terms of smoke exposure to a hundred cigarettes smoked. During a hookah session, a smoker takes about 200 puffs, inhaling 30-40 times more smoke than when smoking cigarettes.
Prolonged inhalation of secondary hookah smoke can cause dizziness, carbon monoxide poisoning, and later asthma, coronary heart disease, stroke, and even lung, esophageal, and stomach cancer.
WHO surveys show that 2.6% of Ukrainians are hookah smokers, with this share concentrated in the youngest age group of 18-29 years old.
