Business news from Ukraine

Business news from Ukraine

UKRAINE SOWS TWO THIRDS OF PLANNED AREAS WITH AGRICULTURAL CROPS – MINISTRY

During the sowing season 2022, Ukraine sowed 9.9 million hectares of land with the main agricultural crops, which is 68.7% of the 14.4 million hectares planned for the current season, including 2.8 million hectares, the Ministry of Agrarian Policy and Food announced on Friday.
According to the data published on its website, as of May 12, the area under sunflower crops totaled 3.29 million hectares (66% of the 4.93 million hectares planned for 2022), corn – 3.24 million hectares (67% of 4.85 million hectares). hectares), spring barley – 918,800 hectares (89.7% of 1.02 million hectares), spring wheat – 187,500 hectares (98.8% of 189,600 hectares), oats – 156,700 hectares (95.7% of 163,600 hectares), peas – 123,900 hectares (85% of 145,700 hectares).
In addition, the sown area under potatoes is 1.01 million hectares (85.2% of 1.19 million hectares), soybeans – 728,600 hectares (58.1% of 1.25 million hectares), sugar beet – 181,400 hectares (87.7% of 206,900 hectares), spring rapeseed – 26,700 hectares (89.5% of 29,800 hectares), millet – 22,500 hectares (36.1% of 62,300 hectares), buckwheat – 12,200 hectares (14.9% of 81,600 hectares).
“The agrarians of Ukraine, in spite of everything, are sowing. As a result, almost 90% of the areas predicted for spring crops of the early group have already been sown. In Volyn, Vinnytsia, Kirovohrad and Dnipropetrovsk regions, spring wheat is sown on 10-15% more areas than last year,” the ministry said.
In addition, in 2021, winter crops were sown for the 2022 harvest on a total area of 7.7 million hectares, including 6.5 million hectares of winter wheat, 1 million hectares of barley and 0.16 million hectares of rye.

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UKRAINE’S RETAIL ASSOCIATION CREATES DATABASE OF UKRAINIAN MANUFACTURERS FOR RETAIL

The Retail Association of Ukraine (RAU) has launched a project to create a database of Ukrainian manufacturers, designed to unite retail chains and product owners, the association’s press service reported.
According to a press release, the implementation of the project will help trading companies quickly find the right manufacturers and suppliers in Ukraine, and manufacturers will increase their ability to supply products to national networks and regional players.
The project is also designed to support the Ukrainian manufacturer to ensure its stable sales of products and, as a result, the preservation of production, jobs and filling the local and state budgets.
To join the project, a manufacturer or supplier must fill out a form, where, in particular, indicate the list of products, the possibility of organizing delivery, etc.

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QUOTES OF INTERBANK CURRENCY MARKET OF UKRAINE (UAH FOR 1 RUB, IN 01.03.2022-31.02.2022)

Quotes of interbank currency market of Ukraine (UAH for 1 RUB, in 01.03.2022-31.02.2022)

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UKRAINE LAUNCHES MICRO-GRANT PROGRAM FOR BUSINESSES

Micro and small-sized enterprises in nine regions of Ukraine affected by Russian military aggression can apply for micro-grants in the amount of UAH 125,000 (EUR 4,000) through the Diia government portal, according to the Telegram channel of the Ministry of Digital Transformation of Ukraine.
“Due to the Russian invasion of Ukraine, hundreds of Ukrainian enterprises were forced to stop their work or reduce their activities at times. Therefore, to financially help small business owners who have suffered from Russia’s armed aggression, we are launching grants on the Diia portal,” the ministry said.
According to the report, enterprises that:
– registered no later than December 31, 2021 in Chernihiv, Sumy, Kharkiv, Kherson, Mykolaiv, Zaporizhia, Donetsk, Luhansk and Kyiv regions;
– temporarily moved out of these areas;
– suffered as a result of hostilities, but continue to work and can confirm this.
Priority in the selection is given to companies that produce vital goods for Ukrainians and the Armed Forces of Ukraine. The selection of applications will be handled by a commission of independent business experts.
It is also reported that the grants became available thanks to funding from the European Union and the German government under the technical support program EU4Business: SME Competitiveness and Internationalization, which is implemented in Ukraine by the German federal company Deutsche Gesellschaft für Internationale Zusammenarbeit, (GIZ) GmbH.
The initiators of the program are the Ministry of Digital Transformation, the Ministry of Economy, the Entrepreneurship Promotion Office and Diia Business. The implementing partner of the program is the East Europe Foundation.

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UKRAINE AND MOLDOVA TO RENEW FREE TRADE AGREEMENT

Ukraine and Moldova will renew the Free Trade Agreement, Ukrainian Prime Minister Denys Shmyhal has said.
“Despite the war we are implementing agreements of 2021. The draft law on the application of Pan-Euro-Mediterranean rules of origin was submitted to Parliament,” Shmyhal said in Twitter on Friday.
In turn, representative of the Cabinet of Ministers in the Verkhovna Rada Taras Melnychuk said the draft law approved on Friday “On the ratification of the Protocol between the Cabinet of Ministers of Ukraine and the Government of the Republic of Moldova on Free Trade Agreement between the Cabinet of Ministers of Ukraine and the Government of the Republic of Moldova dated November 13 2003” will allow in bilateral trade between Ukraine and Moldova, when determining the origin of goods, to be guided by the provisions of the Regional Convention on pan-Euro-Mediterranean preferential rules of origin or alternative rules of origin of the said Regional Convention.

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METINVEST REDUCED PRODUCTION OF STEEL, PIG IRON, COKE IN FIRST QUARTER

“Metinvest”, the largest Ukrainian mining and metallurgical holding, in January-March of this year, reduced steel production by 8% compared to the same period last year, and by 25% compared to the previous quarter – to 1.962 million tons, n pig iron – by 15% and 31%, to 1.828 million tons, the total production of coke – by 33% and 28%, respectively, to 783 thousand tons.
According to a press release from parent company Metinvest B.V. on operating results for the first quarter of 2022, in January-March of this year, the group reduced the total production of iron ore concentrate (IOR) by 3% compared to the same period last year and by 10% quarter-on-quarter to 2.786 million tons, pellets by 35% and increased by 34%, respectively – up to 1.281 million tons, the total production of coking coal concentrate – increased by 29% and reduced by 14%, respectively, to 1.276 million tons.
As reported, according to the results of 2021, Metinvest increased steel production by 15% compared to 2020 – up to 9.533 million tons, pig iron – also by 15%, up to 9.709 million tons, but reduced the total production of coke by 5% – to 4.551 million tons. In 2021, Metinvest increased the total production of iron ore concentrate (IRO) by 3% compared to the previous year – up to 31.341 million tons, pellets by 18% – up to 5.811 million tons and the total production of coking coal concentrate – by 92%, up to 5.542 million tons.
Metinvest is a vertically integrated mining group of companies that manages assets in every link of the production chain from iron ore and coal mining and coke production to the production of semi-finished products and finished products from steel, pipes and coils, as well as the production of other high value-added products. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the USA, has a sales network covering all key global markets.
Metinvest’s main shareholders are the SCM group (71.24%) and Smart Holding (23.76%), which jointly manage the company.
Metinvest Holding LLC is the management company of the Metinvest group.

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