Ukrainian Agribusiness Club (UCAB) considers the continuation of the restrictive measures on import of wheat, corn, rapeseed and sunflower from Ukraine to Poland, Hungary, Slovakia, Romania and Bulgaria discriminatory and groundless and insists on the cancellation of this decision.
“Such prolongation will neither solve the problems of local markets nor improve the situation of local farmers,” said a statement published on the UCAB website on Monday.
The business association believes that the resolution prepared by the EU on the prohibition of the import of agricultural products from Ukraine to five neighboring EU countries, according to which the restrictions will be in force until September 15 this year, will have a negative impact on the economic recovery of Ukrainian farmers during the war.
Such decisions should be taken only after detailed studies and consultations with all EU member states because according to the latest data, some neighboring EU member states, such as Poland, were able to increase their export potential and domestic processing by importing cheaper Ukrainian agricultural products and improve their positions in livestock and finished products, the UCAB reminded.
The business association noted the negative influence of such a decision on the situation with sabotage of the “grain agreement” by Russia. “According to preliminary forecasts, the current steps to prohibit the import of Ukrainian agricultural products to the EU may deepen the blackmailing of the Russians regarding the operation of the grain corridor,” the UCAB said.
Experts of business-association emphasized that Ukraine will have less export potential in 2023 season: export of grains and oilseeds from Ukraine is forecasted to decrease by one third to 46 million tons per year.
Existing trade restrictions on Ukrainian agricultural products in five countries of the EU should be abolished. At the same time, it is worth conducting an open constructive dialogue between representatives of the Ukrainian and European agro-communities in order to find compromises, which will help both the EU and Ukraine to become stronger, summed up in UCAB.
Ukrainian cat and dog food manufacturer Kormotech is investing EUR14 million to expand its production in Ukraine and Lithuania during 2022-2023, the company’s press service told Interfax-Ukraine.
Reportedly, some of the projects are already being implemented and some are planned to be implemented by the end of 2023. Investments in the Lithuanian plant in 2022-2023 will total EUR 5.4 million, and in Ukrainian plants for wet and dry feed by the end of this year will be about EUR 8.5 million.
The wet fodder production capacity at the Kedainiai Kormotech plant in Lithuania is expected to increase by 25%, and at the Ukrainian plant by 65%. At the Lithuanian plant, the company has integrated new technology for the production of wet feed in the premium and super-premium segments.
In Ukraine, the company is expanding the capacity of its wet feed factory, modernizing 50% of its existing equipment and automating manual processes, the company said. In addition, it plans to modernize its dry feed plant in 2023.
According to the press release, Kormotech continues to improve the efficiency of existing production and business processes.
According to the press release, last year it began working on a “zero losses” program to reduce all irreversible losses at the plant to zero or to recycle them. A complete energy audit of the production in the areas of heat recovery, thermal insulation and the system of monitoring of energy consumers in the processes was carried out. Kormotech began implementing the SAP ERP system in the cloud, which will help focus on innovation, reduce operating costs and improve process efficiency.
Kormotech’s 2022 results show a 12 percent increase in turnover to $124 million from $110 million in 2021. The goal in 2023 is to reach a turnover figure of $150 million and increase the export/Ukraine ratio to 30%/70% from 24%/76% previously through synchronous growth of markets, the report said.
LLC “Kormotech” is the leading Ukrainian manufacturer of food for cats and dogs, occupies the 51st position in the world ranking of petfood producers and the seventh in the ranking of the most dynamic petfood brands. Kormotech sells its own brands and partner brands in 40 countries.
The company has two dry and wet food plants in the Lviv region and a plant in Lithuania. The company produces products for cats and dogs under its own brands Optimeal, CLUB 4 PAWS (TM “Meow!” and “Woof!”) and in private label direction. The assortment has more than 650 items.
The ultimate beneficiaries of Kormotech are Elena and Rostislav Vovk.
The National Bank of Ukraine in May fined Cominbank by UAH 10.45mn and Motor Bank by UAH 10.05mn for improper checking of new and existing clients and insufficient financial monitoring of operations.
As stated in a statement on the NBU website on Monday evening, the regulator also fined Alliance Bank UAH 1.45 million for late submission of information and documents on currency operations at the request of the National Bank, problems with internal documents on prevention and countermeasures.
In addition, Concord Bank was fined UAH 0.4 million for improper risk-based approach and Ukreximbank UAH 0.2 million for delayed provision of information.
Finally, as indicated by the NBU, Bank Lviv received a written warning for problems with internal documents on prevention and counteraction and violations in informing about suspicious activities of customers.
The National Securities and Stock Market Commission of Ukraine on 25 May registered the issue of DTEK Pavlogradugol’s M-series unsecured interest bonds with a nominal value of UAH 10bn.
The state register of bond issues specifies that in the case of DTEK Pavlogradugol the par value of one bond is UAH 100 thousand.
Previously, DTEK Pavlogradugol issued bonds in August 2016: 25 issues of different series with a face value of UAH 1 million and 2 bonds in each, but in May 2018 the certificate of all issues was invalid.
No other data on DTEK Pavlogradugol’s new issue is available yet.
Number of unemployed in Ukraine and job opportunities, Apr 22 – Apr 23
Source: Open4Business.com.ua and experts.news
The National Securities and Stock Market Commission of Ukraine on May 30 registered the report on the results of issue of interest-bearing unsecured bonds of Nova Posta LLC of Series D with the total nominal value of UAH 800 mln without making a public offering.
According to Standard-Rating, which assigned uaAA credit rating to Nova Posta D-series bonds, they were issued with maturity from 27 to 31 January 2025 with quarterly interest payments and nominal rate of 23% per annum.
It is indicated that 29% of the funds raised will be used to support the issuer’s operating facilities, 25% to create safe spaces for the issuer’s employees and 46% to invest in BDF containers, container ships and plastic parcel containers.
As reported, in February this year, Nova Posta redeemed UAH 700 million worth of Series B bonds issued in March 2020.
The circulation term of the bond series “C” – until January 12, 2024, the nominal interest rate on it – 24% per annum.
According to “Standard-Rating”, the revenue of “New Post” in the first quarter of 2023 rose by 2.1 times or 113.2% to 8 billion 83.1 million UAH, EBITDA – almost 4.4 times to 1 billion 307.8 million UAH and net profit – almost 8 times to 1 billion 54.91 million UAH.
