Business news from Ukraine

Business news from Ukraine

UKRAINIAN EXPORTERS STARTS SENDING CONTAINERS WITH RASPBERRIES TO USA AND CANADA

Ukrainian exporters in 2021 for the first time sent one sea container with frozen raspberries to the United States and Canada. This event is important for domestic producers, since this berry is traditionally more expensive in the markets of these countries than in other regions of the world.
As reported on the website of the Ukrainian Horticultural Association (UHA) on Monday, the importance of this event for the development of production and freezing of berries in Ukraine is explained by the high level of requirements for product quality and logistics, which were successfully overcome by Ukrainian suppliers this year.
“One shipment of raspberries was sent to Canada and the United States in the amount of one sea container. The logistics took about one and a half months, and the buyer was satisfied with the quality of the supplied products and is considering the possibility of continuing cooperation with Ukrainian suppliers on an ongoing basis,” the association said.
The association said that the higher import price for berries in the United States and Canada is due to high requirements for the quality of products, for the confirmation of which Ukrainian exporters have been certified by the FDA (The U.S. Food and Drug Administration).
“The United States and Canada account for about 80% of all global imports of frozen raspberries in value terms and about 65% in physical terms. However, Ukraine has traditionally exported frozen raspberries mainly to Poland, which makes good money on the re-export of Ukrainian raspberries to other countries of the world,” the organization said, citing Economist of the Investment Department of the Food and Agriculture Organization of the United Nations (FAO) Andriy Yarmak.
According to the UHA, the United States imports frozen raspberries from Chile, Mexico and Serbia, and Canada from Chile, Serbia, the United States and Mexico.
The approximate carrying capacity of a standard 40-foot sea container is 27 tonnes.
“Accordingly, for Ukraine, which is one of the five largest world exporters of frozen raspberries, it is very important to gain a foothold in these two most important sales markets. This is especially important amid the expected growth in production of all types of berries in 2022-2024. It remains to hope that not only the volume, but also the quality of the berries produced will grow,” the association said.
According to the data on the website of the Ukrainian Agribusiness Club, in 2020 Ukraine produced 35,000 tonnes of this berry, ranking seventh in the world in terms of its production. Some 89% of this berry was grown on household farms.
Last year, Ukraine exported 539 tonnes of raspberries, which is 2% of its total production. At the same time, Poland was practically the only consumer of Ukrainian fresh raspberries.

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UKRAINE MEETS UP TO 80% EU STANDARDS IN TRADE AREAS – DEPUTY PM STEFANISHYNA

In the key areas in which trade between Ukraine and the EU takes place, the country meets 70-80% European standards, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Olha Stefanishyna said in an interview with the online edition of Radio Liberty on Saturday.
“In the five main areas in which trade takes place, we meet European standards by 70-80%. This has already been confirmed. Energy sector – 80%. Food and sanitary measures – more than 70%. We fully comply with the system of public procurement and telecommunications. This is means that in the understanding of our European integration, we [Ukraine and the EU] work in the same way and live the same,” Stefanishyna said.
She also said that more than 14,000 Ukrainian companies are already operating in the European market.
Ukraine is also the country that is integrated into European structures. The country is a member of more than 20 EU agencies and institutions from law enforcement (this is the European Public Prosecutor’s Office), ending with scientific and cultural programs.
Therefore, according to Stefanishyna, from the point of view of political, economic convergence, Ukraine has actually achieved tremendous results in five years.

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UNITED KINGDOM RECOGNIZES UKRAINIAN VACCINATION CERTIFICATES

Since October 11, citizens of Ukraine have the right to visit France, who have completed a full course of vaccination with Johnson and Johnson, AstraZeneca, Moderna, Pfizer, R-Pharm, and seven days have passed since the last dose was received (28 days Johnson and Johnson), the State Border Guard Service of Ukraine has said.
According tothe State Border Guard Service’s statement in the Telegram channel on Monday, the United Kingdom has recognized Ukrainian vaccination certificates and from October 11 will accept Ukrainian citizens who have completed a full course by Johnson and Johnson, AstraZeneca, Moderna and Pfizer medicines.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 11/10/21

National bank of Ukraine’s official rates as of 11/10/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF OCTOBER 06

Official rates of banking metals from national bank as of October 06

One troy ounce=31.10 grams

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FERREXPO STARTS COOPERATION WITH RICARDO PLC FROM UK AS PART OF DECARBONIZATION PLANS

Ferrexpo Plc (the U.K.), managing Poltava Mining and Yeristovo Mining in Ukraine, has started cooperation with specialists Ricardo Plc (the U.K.), as part of decarbonization plans by 2050. “The Group undertakes a commitment to achieve net zero carbon emissions from its operations by the year 2050,” the company said in a press release on Monday. In addition, the group undertakes an initial commitment to achieve a minimum of a 30% reduction in combined Scope 1 and 2 emissions by 2030.
According to the press release, Ricardo to also help enhance the group’s existing climate change scenario reporting and review the role of Ferrexpo’s iron ore pellets within the circular economy. Results of Ricardo’s analysis expected to enhance the group’s carbon reduction targets and to further develop climate change reporting in 2022.
Jim North, Interim Group Chief Executive Officer, said that whilst iron ore pellets offer our customers the opportunity to significantly reduce carbon emissions already, it is important to signal a clear intention to decarbonise our own operations.
“It is on this basis that we have adopted the targets announced today, to demonstrate both our focus on climate change and our understanding of the importance of decarbonisation,” North said.
He said that Ferrexpo jointly with Ricardo intends to be a workstream that develops science-based reduction targets and a timeline for the stages of decarbonisation in each aspect of the Ferrexpo business.
“In the 18 months to June 2021, the group has already recorded a carbon reduction in excess of 20%2, which is a demonstration of our commitment to the environment,” North said.
Tim Curtis, Energy & Environment Managing Director at Ricardo Plc, said that Ricardo’s experts have been helping organisations around the world to develop robust and science-based pathways to achieving net zero carbon emissions and they will support Ferrexpo with the development of its decarbonisation targets and providing objective expertise to help realise this ambition.
Ricardo Plc is a world-class environmental, engineering and strategic consulting company.
Ferrexpo is an iron ore company with assets in Ukraine.

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