Business news from Ukraine

UKRAINE THRESHES 18.9 MLN TONNES OF EARLY GRAIN BY JULY 23

Ukraine as of July 23 had threshed 18.9 million tonnes of early grain and leguminous crops from 6 million hectares (62% of the forecast for these crops) with the yield being 31.7 centners per ha. According to the Ministry of Agrarian Policy and Food, farmers harvested 14.3 million tonnes of winter wheat from 4.2 million hectares (67% of the forecast) with the yield of 33.9 centners/ha, 30,000 tonnes of spring wheat from 13,000 hectares (7%) with a yield of 22.8 centners/ha, 2.9 million tonnes of winter barley from 813,000 hectares (98%) with the yield being 35.1 centners per ha, 1.1 million tonnes of spring barley from 563,000 hectares (37%) with a yield of 19.6 centners/ha, and 510,000 tonnes of peas from 306,000 hectares (72%) with a yield of 16.7 centners/ha.
The country also collected 60,000 tonnes of rye from 25,000 hectares (17%) with a yield of 23.5 centners/ha and 13,000 tonnes of oats from 8,000 hectares (4.1%) with a yield of 16.6 centners/ha.
In addition, farmers threshed 2.3 million tonnes of winter rapeseeds from 878,000 hectares (90%) with a yield of 25.7 centners per ha and 10,300 tonnes of spring rapeseeds from 6,000 hectares (11.3%) with the yield standing at 16.6 centners/ha. Agrarians in Odesa region completed wheat harvesting on July 23.

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LARGEST SUGAR PRODUCER INCREASES SALES BY 13%

Astarta agro-industrial holding, the largest sugar producer in Ukraine, increased sugar sales by 13% in April-June 2018 compared to the same period in 2017, to 91,740 tonnes, the company said on the Warsaw Stock Exchange.
According to a press release, sales of corn fell by 5%, to 97,990 tonnes, wheat from 80,710 tonnes to 1,510 tonnes, barley from 4,310 tonnes to 70 tonnes, whereas sunflower rose by 3.3 times, to 25,920 tonnes.
Sales of soybean oil decreased by 14%, to 9,240 tonnes, soybean meal by 11%, to 35,880 tonnes, milk by 1%, to 26,410 tonnes.
The company says that at the same time average sugar prices for this period decreased by 23%, those for wheat by 16%, for soybean oil by 2%, for corn increased by 14%, for sunflower and milk by 11%, for soybean meal by 15%.
Taking into account the given data, the total sales of these products by Astarta in the second quarter of this year amounted to UAH 2.5 billion, which is 10.9% less than in the second quarter of last year.

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AVERS INSURER TO BUY OUT 75% OF ITS SHARES

Shareholders of PRJSC Avers Insurance Company (Kyiv) at a meeting on July 20 decided to buy out 15,000 shares of the company (75%) for their further cancellation, according to the insurer’s official statement. An independent valuation of the shares determined their price at UAH 2.6 each with a nominal value of UAH 1,000.
The buyout of the shares will take place from September 23 to December 28, 2018.
According to the company, at the time of this decision, its shareholders were BASK Ltd. (22.85%), members of the supervisory board, Daniil Volynets (65%) and Serhiy Bilohortsev (5.15%).
PrJSC Avers was registered in 2007. It provides risk insurance services.
Its charter capital is UAH 20 million.

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UKRAINE’S PRESIDENT SIGNS LAW ON COPYRIGHT PROTECTION

President of Ukraine Petro Poroshenko has signed the law on effective management of copyright in the sphere of copyright and related rights (passed by parliament under No. 7466), which establishes rules for the operation of collective copyright management organizations, according to the website of the Verkhovna Rada. Some 246 people’s deputies on May 15 supported this document after in late April the United States had canceled duty-free import of a number of goods from Ukraine because of copyright infringement.
The law notes that a collective copyright management organization is a registered public association with the status of a legal entity that does not have the purpose of making profit, founded solely by copyrights holders, whose activities are aimed at collective management of property rights to objects of copyright and (or) related rights.
The document establishes the procedure and requirements for accreditation and registration of such organizations, specifies the content of the register of such unions, and regulates the issues of collection, distribution and payment of remuneration to copyright holders.

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