The international research company Corteva Agriscience will open ten training sites in Ukraine this year to train Ukrainian farmers in sunflower and corn cultivation technologies, according to its press release on Thursday.
At the same time, it is specified that Corteva experts will conduct agronomic training at professional experimental plots, demonstrating to agricultural producers the reactions of crops to various agrotechnical factors. The service is available to the company’s customers who can apply to the commercial team for training.
Earlier, in April, due to Russian military aggression against Ukraine, Corteva decided to leave the Russian market.
Corteva Agriscience is a global agricultural company. It offers farmers comprehensive solutions to maximize yields and profitability. It has more than 150 research facilities and more than 65 active ingredients in the portfolio.
JSC Ukrzaliznytsia exported 804,900 tonnes of grain cargo in June 2022, which is approximately the same as last month (807,000 tonnes), Deputy Director of the Department of Commercial Work at Ukrzaliznytsia Valeriy Tkachev said on Facebook during online meetings with industry representatives on Thursday.
In particular, 639,900 tonnes of grain were transported through land border crossings on the western border, and 165,000 tonnes were delivered to ports.
Tkachev specified that in June 2022, Ukrzaliznytsia loaded 1.23 million tonnes of grain into wagons, which is 14% of the total loaded volume of 8.57 million tonnes.
At the same time, the volume of transportation of grain cargo amounted to 1.36 million tonnes in June, which is 10.5% more than the volume of loading for this period.
According to Tkachev, the volume of average daily loading into wagons in June amounted to 38,000 tonnes. This figure tends to decrease on weekends: if on weekdays 50,000-70,000 tonnes are loaded into Ukrzaliznytsia wagons, then on weekends – an average of 26,000 tonnes.
Customs revenues in June increased by 33% compared to May, to UAH 12.69 billion, Yaroslav Zhelezniak, the deputy head of the parliamentary committee on finance, taxation and customs policy, said.
“The results of the work of customs in June: receipts amounted to UAH 12.69 billion. On the one hand, this is already 33%, or UAH 3.1 billion more than received in May from customs,” he said on Telegram.
Zhelezniak recalled that import exemptions were still in effect in June, which means that the June customs results indicate a gradual resumption of economic activity.
“On the other hand, such an income is only a third (32%) of what was supposed to come from customs in peacetime – the plan was UAH 34 billion,” Zhelezniak said.
The number of participants in the non-banking financial market of Ukraine decreased in June by six companies, to 1,653, according to the website of the National Bank of Ukraine (NBU).
At the same time, the regulator clarifies that no new participants have appeared.
According to the NBU, the number of banks as of June 30 has not changed and is 69 financial institutions.
The number of non-life insurance companies – 129, life insurance companies – 13, credit unions – 187 and collection companies – 67 remained unchanged.
At the same time, both the number of pawnshops (to 195) and the number of leasing companies (108) decreased by two participants. One financial company left the market (892 continue to work) and one insurance broker (62).
At the same time, it is indicated that 24 banking groups and 23 non-banking financial groups are recognized on the market.
In the payment market, according to the regulator, there are 37 national payment systems, including state ones, and 16 international payment systems.
In June, the National Bank received 207 requests from market participants for registration and licensing actions. There were 154 requests for financial companies, pawnshops and lessors, 18 for insurers, 34 for credit institutions (banks and credit unions), and one for payment institutions.
The Bloomberg Commodity Spot commodity price index has already fallen by 20% since it reached a historical record a month ago.
The calculation of the indicator includes 23 futures contracts for energy carriers, metals and agricultural crops.
Despite ongoing supply disruptions, prices for everything from gasoline to wheat are falling on concerns that a stagnating global economy will weigh on demand. This may provide some help in the fight against high inflation in many countries, Bloomberg notes.
Fears are growing in the US that the Federal Reserve will not be able to tame the highest inflation in four decades without plunging the economy into recession. The sharp rise in the US dollar, which makes buying raw materials more expensive for representatives of other countries, also affected commodities traded in the United States. Hedge fund bets that commodities will rise in price have fallen to their lowest level in almost two years.
However, a recession is a “highly anticipated issue” and markets have “clearly overreacted” by bringing commodity prices back to pre-war levels in Ukraine, said portfolio manager Pacific Investment Management Co. Greg Sharenow. Supplies of commodities such as oil remain limited and vulnerable to disruption, he said. The expert expects a resumption of demand in the coming months against the backdrop of China’s economic recovery.
The Ukrainian Grain Association (UGA) increased the forecast for the harvest of grain and oilseeds in Ukraine in 2022 by 4.4% compared to the May forecast – up to 69.4 million tons from 66.5 million tons, according to the UGA website on Wednesday.
At the same time, the assessment by the association of sown areas under these crops increased by 1.6% compared to forecasts in May – up to 19.1 million hectares from 18.8 million hectares.
“Ukrainian farmers, despite the difficult wartime conditions, minefields and hostilities due to the aggressive war of the Russian Federation, continue to courageously fight for the harvest so that Ukraine has enough grain and can export part of the crop to the world market. This year, Ukraine can get 69 .4 million tons of grain and oilseeds from an area of about 19.1 million hectares,” the UGA said in a statement.
At the same time, the export of grain and oilseeds from Ukraine in the 2022/2023 marketing year (MY, July-June) can reach 31.5 million tons, subject to a significant increase in the throughput capacity of border crossings on the western borders of Ukraine. Given the current throughput capacity, Ukraine can count on the export of about 25-30 million tons of crops in the 2022/2023 marketing year that has begun.
According to the results of 2021/2022 MY, it is expected that the transitional crop balances in the country will amount to about 25.9 million tons (+0.9 million tons compared to UGA forecasts in May). In 2022/2023 MY, this figure may increase to 36.6-48 million tons due to the inability to export agricultural products at the usual pace for Ukraine. In May, the association predicted transitional balances for 2022/2023 MY at the level of 31-43 million tons.
According to UGA forecasts, in 2022, a wheat harvest is expected at the level of 20.8 million tons (+8.3% compared to the organization’s May forecast); 27.3 million tons of corn (+4.6%); 6.6 million tons of barley (forecast kept); 9 million tons of sunflower (forecast kept); 2.2 million tons of soybeans (+4.7%); 1.5 million tons of rapeseed (+13.3%).
UGA also predicts the export of wheat in 2022/2023 MY at the level of 10 million tons, corn – 10 million tons, barley – 2 million tons, sunflower – 6 million tons, soybeans – 1.8 million tons, rapeseed – 1.45 million tons.
“In general, the export of grains and oilseeds in 2022/2023 MY can be expected at the indicated level, if Ukraine, under the blockade of the Black Sea ports, can double the throughput of other logistics directions, including railway crossings at the borders with the EU countries,” the association explained in message.
At the same time, the unblocking of the Black Sea ports will greatly simplify the logistics and cost of transporting grain for export, and producers will be able to make a big profit for the grown crop in accordance with the high prices for agricultural crops that are currently prevailing on the world market. “Unblocking Ukrainian ports and ensuring the safety of navigation in the Black Sea is the only way to quickly and effectively resume Ukrainian grain exports to countries in dire need. The lack and high cost of food can cause, according to UN estimates, famine in many poor countries of the world, mass protests and riots, and as a result mass migration of people from Africa and the Middle East to the EU,” the UGA summed up in the message.
As reported with reference to the data of the State Statistics Service, in 2021 Ukraine harvested a record harvest of grain and leguminous crops in the amount of 85.7 million tons, which is 32% more than in 2020. In total, 32.07 million tons of wheat (+28.9%), 41.87 million tons of corn (+38.2%) and 9.42 million tons of barley (+23.3%) were harvested.
Ukraine in 2021 also harvested 16.38 million tons of sunflower (+25% compared to 2020), 10.8 million tons of sugar beet (+18.1%), 3.5 million tons of soybeans (+24.4%), 2.92 million tons of rapeseed and 42 thousand tons of oilseed flax (an increase of 3.7 times).
The Ukrainian Grain Association (UGA) is an association of producers, processors and large grain exporters who annually export about 90% of Ukrainian grain products.
