Business news from Ukraine

Business news from Ukraine

AREA SOWN WITH POTATOES IN UKRAINE EXPANDING

Over the past five years, the area sown with potatoes has increased by 2.7%, or 35,000 hectares, to 1.33 million hectares in 2020, the Ukrainian Agribusiness Club (UCAB) has said.
According to a report on the association’s website, as of September 1, 2020, almost 14.825 million tonnes of potatoes were harvested from 948,700 hectares. Despite the large number of areas from which potatoes have already been harvested, the yield per hectare is low. For comparison, in 2018 the average yield in Ukraine was 16.76 tonnes per ha, in 2019 15.21 tonnes per ha, and in 2020 15.63 tonnes per ha.
“The relatively low yield of recent years is associated with unfavorable conditions in most regions of Ukraine from May to June. That is why there was a boom in potato imports in 2019. In 2019, potato imports amounted to 246,760 tonnes, which is almost 60 times more than it was in 2018, while exports decreased to 5,610 tonnes,” the UCAB said.
In 2020, due to the pandemic, as well as unfavorable weather conditions, potato imports were also at a fairly high level. So, according to the association, in the period of January-July 2020, potato imports amounted to 233,760 tonnes for a total of $51.26 million.
According to the UCAB, Belarus is the main country-supplier of potatoes to Ukraine, almost 55.7% of all imported potatoes (130,330 tonnes) for a total of $21.42 million. Also, the top five potato importers to Ukraine were: Russia – 42,470 tonnes ($7.23 million), the Netherlands – 31,220 tonnes ($11.97 million), Egypt – 8,930 tonnes ($2.81 million), Belgium – 8,150 tonnes ($2.77 million).
According to the State Customs Service, since July, Ukraine has hardly imported potatoes – $685,000 in July and $120,630 in August, respectively, the association said.
“At the same time, from July to September inclusive, the average price for potatoes is kept at the level of UAH 6-6.50. This gives reason to believe that this year there is more than enough potatoes on the Ukrainian market for domestic consumption and in the near future one should not expect an increase in prices,” the UCAB said.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 25/09/20

National bank of Ukraine’s official rates as of 25/09/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF SEPTEMBER 25

Official rates of banking metals from national bank as of September 25

One troy ounce=31.10 grams

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HISTORICAL FASHION SHOW WILL BE HELD NEAR KIEV

On September 26 and 27, an exciting spectacular show program “Historical Fashion” will be held in “The Kyivan Rus Park “. A theatrical show of historical costumes, horse stunt shows, performances on historical themes, medieval funs and master classes will be waiting for guests.
Visitors will see the spectacular theatrical parade of historical characters, as well as “military fashion”. And not on the podium, but “in action”! In addition to historical costumes, the audience will see the traditional equipment of horses.
Equestrian stuntmen will demonstrate their virtuosic skills of using various types of medieval weapons on horseback: swords, spears, sulits…
The guests of “The Kyivan Rus Park ” will not be just spectators. Everyone will be able to join the traditional Slavic funs by taking part in fun and entertaining games, competitions, dance flash mobs and fiery round dances.
Also horseback riding, museums, exhibitions, delicious food prepared on fire, and many interesting things from the life of the medieval city will be waiting for visitors.
A visit to Ancient Kiev is subject to the requirements of the quarantine regime.
 The program may be changed.
The entry ticket price:
• for adults (full price) – 200 UAH.,
• for pensioners and students – 150 UAH.,
• for schoolchildren – 80 UAH.,
• for preschool children – for free,
Ancient Kyiv opens at 10:00. The program starts at 13:30.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Details on the website www.parkkyivrus.com
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for a full price adult ticket to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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MHP WANTS TO OPEN GASTRO STUDIOS IN UKRAINE

Myronivsky Hliboproduct (MHP) plans to open 10-20 gastro studios Chef’s Secrets (Sekrety Shefa) in Ukraine next year, which it develops through franchising.
“This model is not as scaled as Myasomarket stores, therefore, we will try to open about 10-20 outlets within the next year,” Serhiy Ivanov, the deputy head of the board of MHP for commerce, said during the official opening of the first outlet in Kyiv.
According to him, it is planned to open such gastro studios not only in Kyiv, but also in other cities.
MHP opened its first gastronomic studio Chef’s Secrets at 22/20 Petra Hryhorenka Street in Kyiv on September 24.
MHP is the largest chicken producer in Ukraine. It is also engaged in production of grain, sunflower oil, meat products. MHP supplies the European market with chilled half-carcasses of chickens, which are processed, in particular at its factories in the Netherlands and Slovakia.

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MACRO SUMMARY OF UKRAINIAN ECONOMY IN JULY-AUGUST

The gross domestic product (GDP) of Ukraine, according to the Ministry of Economy, in the first half of 2020 decreased by 6.5% compared to the same period in 2019, in particular in the second quarter the decline was 11%, which is less than expected earlier (14%).
The drop in Ukraine’s GDP in 2020 will amount to 6% instead of 4.2% expected in April this year, such a consensus forecast on the impact of СOVID-19 on the economy and the society was announced by the Ministry of Economic Development, Trade and Agriculture.
The fall in the gross domestic product (GDP) of Ukraine in the second quarter of 2020 amounted to 11.4% compared to the same period in 2019 against 1.3% in the first quarter, the State Statistics Service has reported in its preliminary estimate.
The Ministry of Economic Development, Trade and Agriculture of Ukraine improved the inflation forecast for 2020 to 5.9% December over December, while in the macroeconomic forecast approved in March, this indicator was at the level of 11.6%, according to the forecast of the socio-economic development of Ukraine for 2021-2023.
Real wages in Ukraine in July 2020 compared to July 2019 increased by 5.1%, and from June 2020 by 2.6%, the State Statistics Service has said.
The Ukrainian Finance Ministry has redeemed the second series of eurobonds issued in the course of restructuring in 2015 and maturing this year worth $1.69 billion and paid some $400 million in interest payments on eurobonds maturing in 2020-2027.
The deficit of Ukraine’s foreign trade in goods in January-August 2020 halved compared with January-August 2019, to $2.43 billion from $4.96 billion, according to data from the State Customs Service presented.
Consumer prices in Ukraine in July 2020 decreased by 0.6% after growing by 0.2% in June, 0.3% in May and 0.8% in April and March, the State Statistics Service has reported.
State budget revenues in July 2020 amounted to UAH 68.92 billion, which is 8% more than the target, but 10.8% behind the last year’s level, according to data from the State Treasury Service.
Ukraine’s international reserves in July 2020, according to preliminary data, increased by 1%, to $28.802 billion, according to the website of the National Bank of Ukraine (NBU).
The debt of the population of Ukraine for housing and utilities services in July 2020 decreased by 3.6% compared to June and amounted to UAH 50.5 billion (excluding electricity).
The prices of industrial producers in Ukraine in July 2020 increased by 0.4%, while in June they decreased by 2%, in May by 0.6% with an increase in April by 0.1%, in March by 1.8%, February by 0.1% and January by 2.5%, the State Statistics Service has reported.
Since the beginning of the new 2020/2021 marketing year (MY, July-June) and as of August 21, Ukraine had exported 5.62 million tonnes of grains and legumes, which is 1.22 million tonnes less (due to corn) than on this date in the past MY.
Prices for construction and installation works in Ukraine in January-June 2020 increased by 1.3% compared to January-June 2019, the State Statistics Service of Ukraine reports.
The turnover of retail trade in Ukraine in July 2020 compared to the same month in 2019 in comparable prices increased by 8.5%, while in the previous month the growth was 1.4%, the State Statistics Service has said.

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