Kernel, one of the largest Ukrainian agricultural groups, has issued $300 million aggregate principal amount of 6.5% notes (eurobonds) due October 17, 2024.
Kernel said on the website of the Warsaw Stock Exchange (WSE), the issue price was 99.475%.
The notes are rated BB- by Fitch, and B by S&P, two notches above and in line with Ukrainian sovereign respectively.
In January 2017, Kernel placed eurobonds worth $500 million. The maturity date of Kernel’s debut eurobonds was January 31, 2022, and the coupon rate was set at 8.75% per annum.
Kernel is the world’s largest producer and exporter of sunflower oil, the leading producer and supplier of agricultural products from the Black Sea region to world markets.
Ukraine as of October 18 had threshed 57.5 million tonnes of grain and leguminous crops from an area of 12.9 million hectares (84% of the forecast) with the average yield being 4.46 tonnes per hectare (ha), the Ministry of Agricultural Policy and Food has reported.
According to the ministry, farmers harvested 17.7 million tonnes of corn from 2.7 million ha (54%), 150,000 tonnes of millet from 80,000 ha (89%), 85,000 tonnes of buckwheat from 64,000 ha (94%). The harvest of early grain and leguminous crops was 39.2 million tonnes from 9.96 million ha.
In addition, farms threshed 13.1 million tonnes of sunflower from 5.8 million ha (93%), 3.2 million tonnes of soybeans from 1,400 ha (88%), 5.6 million tonnes of sugar beets from 129,000 ha (58%).
As of October 18, Ukrainian farmers had sowed winter crops on 6.2 million ha, or 86% of the forecast, including 5.4 million ha with wheat (86%), 112,000 ha with rye (92%), and 738,000 ha with winter barley (80%).
In addition, winter rapeseeds were planted on an area of 1.1 million ha, or 99% of the forecast.
Adult Ukrainians consume almost half the amount of vegetables (174 grams versus the recommended 300 grams per day) and less than 30% of fruits and berries (83 grams versus 300 grams per day) compared with the recommendations for healthy eating for adults.
The relevant data are contained in the national study of the current nutritional structure of Ukrainians, which was conducted by the Ipsos international research company at the initiative of Danone in Ukraine.
The results of the study of food consumption in 2018-2019 showed that adults consume an excessive amount of flour products – 474 grams per day, at the same time, the level of consumption of dairy products is several times lower than recommended, as well as liquid (500 ml per day). Ukrainians consume extremely few legumes – 9 grams against the recommended 75 grams and only a quarter of the recommended amount of nuts and seeds – 8 grams against 30 grams.
According to the study, Ukrainians consume twice the recommended amount of salt – 9.7 grams compared to the recommended 5 grams of the World Health Organization (WHO). Men consume 17% more salt than women – 10.7 grams versus 8.9 grams.
The average adult sugar intake is 46 grams per day. Only about a quarter of the adult population adheres to recommendations for optimal sugar intake – less than 25 grams per day (25% of men and 23% of women). Some 40% of Ukrainians consume from 25 grams to 50 grams of sugar per day. A high level of sugar consumption – more than 50 grams per day is found for more than a third of the population (35%), of which 12% consume more than 75 grams of sugar per day.
The study involved 1,232 people aged 1 to 60 years. The examination of the study was provided by the Association of Dietitians of Ukraine.
National bank of Ukraine’s official rates as of 21/10/19
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of October 21
One troy ounce=31.10 grams
Ukraine’s Verkhovna Rada passed at first reading bill No. 2144 with amendments to the Budget Code with 264 supporting votes on October 18.
The bill sets the amount of government support for agricultural producers at a level of no more than 1% of agricultural output due to insufficient spending of these funds.
“For these purposes, the national budget for 2018 earmarked UAH 5.3 billion of expenses, of which UAH 4.2 billion was actually used, or 79.2% of planned amount, which is 0.66% of agricultural output,” the authors of the bill said in the explanatory note.
In addition, the bill determines the amount for the state fund for regional development at the level of no more than 1% of the forecasted income of the general fund of the draft national budget, according to the document.
At the same time, the parliamentary budget committee pointed out the need to refine the bill for second reading.
