Business news from Ukraine

Business news from Ukraine

UKRAINE TO INCREASE STEEL PRODUCTION IN 2021 TO 21.7 MLN TONNES

Ukrainian metallurgical enterprises are expected to increase steel production by 5% by the end of 2021 compared to 2020, to 21.723 million tonnes.
As reported in the background documents of the Ministry of Economy, which are at disposal of Interfax-Ukraine, production of general rolled products will also increase by 5%, to 19.394 million tonnes, as well as cast iron – by 5%, to 21.521 million tonnes.
The forecast is based on production indicators for January-May of this year, summarized by the Ukrmetalurgprom association, the ministry said.
At the same time, the source of the agency said that if the existing trends continue, the supply of scrap metal to metallurgical enterprises in 2021 will increase by 13%, to 3.280 million tonnes.
Output of pipes in 2021 may increase by 9%, to 931,000 tonnes, coke – by 3%, to 9.928 million tonnes, and refractories – by 7%, to 235,000 tonnes.

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TOURISM AGENCY HEAD: IT’S VERY SAFE FOR TOURISTS IN UKRAINE

Head of the State Agency for Tourism Development Maryana Oleskiv has said that it is very safe for tourists in Ukraine, but there may be low tolerance to cultural specifics.
“I think that Ukrainians are really very tolerant, but there are different people. This is not about danger. It is very safe for tourists in Ukraine. Here we are talking about a possible certain low tolerance to cultural specifics, which can leave an unpleasant impression about the country,” Oleskiv said in an exclusive interview with Interfax-Ukraine.
Also, according to her, there are stories of overpricing in the service sector.
“We need to convey the following to people: that when a foreign tourist comes to them, they can earn $100, or they can inflate the price and earn $200. But then this tourist will not return to you, and ten more people will not come on his recommendation, who could spend another $100. When you come to the country, everything around is delicious and people are hospitable, you feel that there is a positive attitude towards you, you want to return. But when you feel that they want to cheat you everywhere, you do not want to come there again and tell everyone about it,” she said.
In addition, Oleskiv announced that this week she would meet with members the Ministry of Infrastructure to develop a systematic solution to the problem of illegal taxis near airports and train stations.
“Now the question arises who should control this situation, either the State Service of Ukraine for Transport Safety or the National Police. Therefore, clear control mechanisms need to be worked out so that illegal taxis are not able to work in these zones. This is a matter of the country’s image, therefore, taxi operations should be transparent, convenient, understandable for foreigners, safe, with a high level of service,” the head of the agency said

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UKRAINE PROPOSES TO REDUCE CEILING COST OF DUTY-FREE IMPORT OF GOODS INTO UKRAINE IN HAND LUGGAGE FROM EUR 1,000 TO EUR 430

The Cabinet of Ministers has proposed to the Verkhovna Rada to reduce the ceiling cost of duty-free import of goods into Ukraine in hand luggage or accompanying baggage from EUR 1,000 to EUR 430 – for checkpoints at airports and seaports, as well as at the level of EUR 300 instead of EUR 500 – through other checkpoints.
In addition, the bill increases the period during which goods in connection with resettlement to a permanent place of residence in Ukraine are imported without customs duties to one year instead of current six months.
At the same time, the government bill proposes to exempt from taxation the import into the territory of Ukraine of fixed assets of companies that move their activities to Ukraine with the creation of a new enterprise.
In addition, the bill proposes to exempt from duties scientific equipment, devices, as well as other items of research activities not related to entrepreneurship.

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U.S. DEPARTMENT OF AGRICULTURE IMPROVES FORECAST OF UKRAINIAN SUNFLOWER OIL EXPORT BY 19%

The U.S. Department of Agriculture (USDA) in its June report has improved the projections for the export of Ukrainian sunflower oil in 2021/22 marketing year (September-August) by 1.02 million tonnes (a rise of 18.9% compared to 2020/21), to 6.4 million tonnes, its production – by 1.05 million tonnes (a rise of 17.7%), to 6.98 million tonnes.
According to a report published on the USDA website, the projection for sunflowerseed production in Ukraine in the current marketing year has been improved by 2.6 million tonnes (a rise of 18.5%), to 16.7 million tonnes.
In its June report, the USDA improved its forecast for Ukraine’s exports of sunflowerseed meal in 2021/22 by 0.7 million tonnes (a rise of 15.2% versus 2020/21), to 5.3 million tonnes, its production – by 1.01 million tonnes (a rise of 17.7%), to 6.71 million tonnes.
According to the USDA, Ukraine in 2021/22 will remain the main world exporter of sun sunflowerseed flower oil, while world production of sunflowerseed oil will grow by 10.2%, to 21.15 million tonnes.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JUNE 14

Official rates of banking metals from national bank as of June 14

One troy ounce=31.10 grams

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