The National Agency for Prevention of Corruption (NAPK) has put the American corporation Procter&Gamble (P&G) on the list of international sponsors of war, its website says.
“Unfortunately, due to the low moral threshold, hundreds of foreign companies remain operating in the Russian market, thereby financing the army and military-industrial complex of the aggressor state. Among the companies we know, besides P&G, there are already OpenWay Group, Danieli, TMS Tankers Ltd, Minerva Marine Inc., Thenamaris Ships Management, Delta Tankers Ltd, Dynacom Tankers Management Ltd. eKassir, Liberian International Ship & Corporate Registry and Bonduelle. All information about their activities is transmitted to the international company LSEG and is included in the database World-Check to protect the international financial industry from the sponsors of the Russian war”, – the press service quotes the words of the NAPC chairman Alexander Novikov.
The reason for inclusion in the list of sponsors of war was the fact that, working in Russia, the company pays taxes to the Russian state budget and contributes to the mobilization measures.
In March 2022 P&G announced about reduction of assortment in the Russian market and promised to leave only products for health and hygiene. In August it was reported that it was no longer investing in business development in Russia. However, P&G is developing its business in Russia, in particular a household chemicals factory, the world’s largest producer of P&G detergents, and a plant making razor blades and shaving irons for Gillette are still operating in Russia. The company provides jobs for about 2,500 Russians.
P&G owns such subsidiaries and brands as Gillette, Fairy, Tide, Ariel, Lenor, Mr. Proper, Pampers, Always, Head & Shoulders, Pantene, Old Spice, Hugo Boss, Max Factor and others.
In March 2022, after announcing the reduction of its presence on the Russian market, P&G raised prices for its own products in Russia by 40%, which almost offset the loss of revenue from the reduction of the brand portfolio. According to the company’s 2022 report, this price hike boosted the company’s organic sales in Russia.
In addition, the company promotes mobilization, because under new Russian law, corporations operating in Russia are forced to participate in mobilization activities, assist in recruiting employees to the army and finance their military equipment.
Source: https://sanctions.nazk.gov.ua/boycott/14/
The European Commission will propose to the EU member states to extend the suspension of all customs duties and trade protection measures on imports from Ukraine for a year, the head of the European Commission, Ursula von der Leyen, has said.
“Last year, we abolished all duties and quotas for goods from Ukraine. It was a great success… Today I can announce that we will propose to prolong this trade agreement for the next year,” – said von der Leyen during a press conference with Ukrainian Prime Minister Denis Schmigal.
Ukraine is facing the task to reduce the average annual share of illegal products on the tobacco market not more than 5%, while last year the figure was 19.9% on average.
According to the head of the parliamentary committee on finance, tax and customs policy Daniel Getmantsev in Telegram-channel, the country recorded a decrease in the illegal cigarette market to 17.8% in November from a record 21.9% in August.
“The illegal tobacco market is shrinking! Kudos to law enforcement and the Excise Department of the State Tax Service. Our goal is to get the illegal tobacco market to a maximum of 5% by the end of the year!” he wrote.
According to research agency “Kantar Ukraine” in August 2022 the share of counterfeit cigarettes in Ukraine was 8% of the total market, while in 2021 in November – 6.6%, August – 5.6% and February – 4.2%. The share of cigarettes labeled as intended for export and sale in Duty Free, but sold illegally in Ukraine in August 2022 was 12.2% of the total Ukrainian cigarette market, while in 2021 it was 10.9% in November, 9.8% in August and 6.9% in February.
In turn, the share of smuggled cigarettes in August-2022 decreased to 1.8% compared to 2.9% last November and 2.7% in August-2021.
“Kantar” recalled, the average annual level of illegal tobacco sales in Ukraine in 2021 was 16.9%, while in 2020 – 6.9% (10 p.p. less), in 2019 – 6.6% (10.3 p.p. less), in 2018 – 4.4% (12.5 p.p. less). The lowest illegal cigarette market volume in a decade was recorded in 2016 at 1.1%.
The largest share of illegal cigarettes in August-2022 was recorded in Dnipropetrovsk region – 20% of the entire market, in Odessa (13%), Kharkiv (8%), Khmelnytsky and Lviv (7% each) regions, as well as in Kiev (6%). In the capital this indicator is 8%.
As reported, in October 2022, Hetmantsev said that law enforcement officers have been conducting searches in September at the United Tobacco (LLC “United Tobacco”, Zheltiye Vody, Dnipropetrovsk region), which is suspected of illegal production of tobacco products. The law enforcers have already identified the suspects in the crime and assessed the scale of illegal activity.
According to the European Business Association (EBA), representatives of Ukrainian business expects the law enforcement system of Ukraine to take active measures to combat the shadow markets, including the production of illegal cigarettes, and are ready to assist in establishing the damage from the illegal activities of such enterprises.
Last year Ukraine exported agro-food products for the total sum of $23.4 billion, that is 16% less as compared to 2021.
According to an analysis by the Ukrainian Agrarian Export Association (UAEA), the figure was the second-largest since the country’s independence, despite the ongoing full-scale war unleashed by Russia against Ukraine in February 2022.
“The key issue for exporters in 2022 was to adapt to ensure all the necessary processes in the completely changed realities of the country’s agricultural sector. For value-added products, the situation managed to stabilize and keep under control, and some positions even showed growth,” the association specified in the document.
According to the Association, last year the total revenue from the export of meat and dairy products, potatoes, frozen vegetables increased, but the income of exporters decreased for the majority of varieties of fruits and vegetables, eggs, honey, processed grains and confectionery products. Meanwhile, export prices for Ukrainian goods, including honey and eggs, continued to rise.
UAEA specified that in 2022 Ukraine exported meat and by-products for $925 million (+9% in 2021), including poultry meat for $853 million (+19%), frozen beef for $69 million (-40%), ready and canned meat products for $21.8 million (2-fold growth) and sausages for $2.9 million (-58%). An important event of the last year was the reduction of quantitative volumes of exported poultry meat due to the war by 10%, to 413 thousand tons.
In turn, proceeds from the export of dairy products reached $251 million (+41% by 2021), including milk powder and condensed milk – $90 million (+57%), butter and milk paste – $82 million (+56%), cheese – $42 million (+58%), non-condensed milk and cream – $16 million (+58%), whey – $15 million (-31%). Ukrainian exports of ice cream exceeded $19 million (+5%), having decreased in real terms by 8%, to 6.9 thousand tons.
In addition, in 2022 exported 27 thousand tons of eggs (-32% to 2021) for $42 million (-7%) and 48 thousand tons of honey (-17%) for $137 million (-5%).
The UAE also noted a decrease in exports of all commodity items of fruits and vegetables, except for potatoes and frozen vegetables. Thus, 0.9 thousand tons of cucumbers (-82% vs. 2021) were sold abroad for $1.6 million (-72%), 1 thousand tons of cabbage for $0.9 million (-64%), 0.3 thousand tons of tomatoes (-94%). tons of tomatoes (-94%) by $0.8 million (-84%), 0.4 thousand tons of onions and garlic (-98%) by $0.3 million (-94%), 0.3 thousand tons of carrots and other root crops (-98%) by 0.2 million (-94%). At the same time, there was an increase in export sales of potatoes – up to 29.7 thousand tons (+56%) at $4.4 million (+14%) and frozen vegetables – 8.7 thousand tons (+3%) at $11 million (+15%).
Export of canned tomatoes also decreased more than three times – to 15 thousand tons, bringing $16 million in revenues. Prepared unfrozen vegetables were sold abroad for $9.7 million (-32%) in the amount of 4 thousand tons (-37%).
The organization estimated that the proceeds from the export of fruits, berries and nuts by the end of 2022 was $313 million (-15% to 2021), including the sale of 84 thousand tons of frozen fruits, berries and nuts. tons of frozen berries and fruits (+11%) for $192 million (-11%), 25 thousand tons of walnuts (-28%) for $80 million (-30%), 46 thousand tons of apples and pears (+56%) for $19 million (+28%), 4 thousand tons of berry crops for $14 million (+12%).
Export of jam, jelly and marmalade by Ukraine in monetary and physical terms remained at the level of 2012: over $ 7 million with the delivery of more than 2 thousand tons. The value of export of canned fruit and berry products decreased to $10 million (-48%), along with a decrease in sales – 3.8 thousand tons (-58%).
uaAE specified that Ukraine in 2022 exported 75 thousand tons of wheat flour (-29% in 2021) for about $24 million (-35%). The situation with sales abroad of pasta also worsened – down to 18 thousand tons (-54%), sold for $40 million (-45%).
“Sales of confectionery sugar products to foreign markets decreased to $139 million (-32%) for 70 thousand tons (-31%). Exports of cocoa products and chocolate amounted to $147 million (-34%) in the amount of 46 thousand tons (-35%). There was also a decrease in foreign sales of bakery confectionery – to 69 thousand tons (-39%) worth $152 million (- 40%),” summed up the association.
The net profit of state-owned PrivatBank (Kiev) in 2022 was 30.25 billion UAH, down 13.7% from 2021 (35.05 billion UAH), the bank’s press service said Thursday.
“PrivatBank ended 2022 with a net profit of 30.25 billion UAH amid martial law in Ukraine, prolonged uncertainty and the need to support its own employees customers and small and medium businesses. This is preliminary data on the confirmation of the bank’s annual and financial statements by an external auditor”, – reads the statement.
According to the press-service, since the beginning of the year PrivatBank increased the number of active clients by 150 thousand – up to 19,1 million individuals and legal entities, and the number of active Privat24 clients – by 1,3 million, up to 13,1 million clients.
In addition the volume of payments by cards in POS-terminals of the bank increased by 551 billion UAH or 17%, deposits and funds of population increased by 107.7 billion UAH (or 48%).
Business funds for the year increased by 35.6 billion UAH or 37%, loan portfolio of legal entities (net) – by 58%.
For the year there were given 23,8 billion UAH of loans to small and medium businesses.
Every day 1 thousand branches, 5 thousand ATMs, 10 thousand terminals and 180 thousand commercial terminals work in PrivatBank network.
IMK Agro Holding is preparing for the spring sowing campaign of 2023, during which it plans to sow all 100% of its land bank (120 thousand hectares), for which it is now buying all the necessary materials and repairing agricultural equipment.
As the group reported at the Warsaw Stock Exchange on Thursday, it sowed winter wheat in the fall of 2022 on about 33,000 hectares, an increase of 80% over previous years, with all crops coming up and in good condition.
IMC specified that in 2022 it harvested 121.9 thousand tons of wheat with a yield of 6.7 tons/ha, and 64.2 thousand tons of sunflower with a yield of 3.4 tons/ha.
“Maize, IMC’s main crop, continues to be harvested, with 42% of the company’s land bank in 2022. As of February 1, 2023, 70% of the area under corn has already been harvested. Corn yield is 10.7 tons/ha (10.6 tons/ha in 2021),” stressed the holding in its report.
At the same time, Russia’s full-scale invasion of Ukraine and the blockade of sea export routes led to a 35% reduction of IMC crop sales in 2022 to 483 thousand tons from 743 thousand tons in 2021.
IMC specified that in the first half of 2022 it was forced to develop alternative export routes through the western borders of Ukraine, but they could not fully compensate the volume of exports through the Ukrainian Black Sea ports. As a consequence, in May-July 2022, the holding exported an average of 14 thousand tons of crops per month compared to 70 thousand tons in the prewar period.
After signing Istanbul Grain Agreement in August, 2022 and partial unblocking of the Black Sea export, the holding increased its crops export almost to pre-war level – in December, 2022 IMC shipped to foreign markets about 66 thousand tons of crops.
IMC specializes in the cultivation of grain and oilseeds and the production of milk in Ukraine. It cultivates about 123,300 hectares of land in Poltava, Chernigov and Sumy regions. It has a storage capacity of 554 thsd. tons of grains and oilseeds.
By the end of 2021, IMC increased its net profit by 2.5 times compared to 2020 – up to $78.71 million, EBITDA – by 53%, to $110.35 million, revenues – by 12.6%, to $181.69 million.
