Business news from Ukraine

Business news from Ukraine

Ukraine has already exported 28.6 mln tons of grain – Ministry of Agrarian Policy

Since the beginning of the 2023-2024 marketing year, Ukraine has exported 28.579 million tons of grains and legumes, of which 4.703 million tons were shipped this month, Denys Bashlyk, Deputy Minister of Agrarian Policy and Food for Digital Development, Digital Transformation and Digitalization, said on Telegram, citing data from the State Customs Service.

According to the report, since the beginning of the current season, which began in July 2023, 11.237 million tons of wheat, 1.596 million tons of barley, 15.439 million tons of corn, and 1 thousand tons of rye have been exported.

As of February 26, the total export of Ukrainian flour is estimated at 73 thousand tons, including 69.3 thousand tons of wheat, the Deputy Minister of Agrarian Policy summarized.

As reported, Bashlyk informed that the harvest of grain and legumes in 2023 in Ukraine was carried out on an area of 10.609 million hectares, which is 97% of the plan, from which 58.993 million tons of grain were harvested.

Winter wheat plantings for the 2024 harvest in Ukraine amount to 4166 thou hectares (-834 thou hectares compared to the previous year), winter barley – 536 thou hectares (-255 thou hectares), and rapeseed – 1374 thou hectares (+110 thou hectares).

According to the newly improved forecast of the Ministry of Agrarian Policy, by the end of 2023, farmers can harvest 81.3 mln tons of grains and oilseeds, including 59.7 mln tons of grains and 21.6 mln tons of oilseeds.

Ukrainian agrarians intend to increase the acreage under soybeans and sugar beets and reduce corn, the Ministry of Agrarian Policy reported following a survey of farmers’ preparations for the spring crops sowing campaign for the 2024 harvest.

According to the report, 70% of respondents indicated that they plan to increase the area under soybeans by 21% on average compared to 2023.

The survey of the Ministry of Agrarian Policy, conducted through the State Agrarian Register, showed that during the spring sowing season, Ukrainian farmers will prioritize pulses, which will increase by 11%, and spring barley – by 7%. The area under spring rapeseed is expected to increase by 24%, sugar beet by 17%, and corn by 9%. The area under sunflower may potentially decrease.

In general, in 2024, the area under spring crops may decrease by 0.5 million hectares or 3.7% compared to last season, according to the Ministry of Agrarian Policy.

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Grave Ukraine Insurance Company to insure risks of Electrotrans for UAH 1.3 mln

On February 26, Khmelnytsky municipal enterprise Electrotrans announced its intention to conclude contracts with Grave Ukraine Insurance Company for voluntary insurance of land transport and compulsory insurance of civil liability of owners of land vehicles, according to the ProZorro electronic public procurement system.

Contracts will also be concluded for compulsory insurance against transport accidents, compulsory insurance of employees of departmental and rural fire protection and members of volunteer fire brigades (teams).

The total expected value of the procurement of services was UAH 1.336 million, and the company’s price offer amounted to UAH 1.335 million.

On April 10, 2008, INPRO Insurance Company became a member of the Austrian financial concern GRAWE (Grazer Wechselseitige Versicherung AG) and was renamed into PrJSC Insurance Company Grave Ukraine. The company’s regional network includes about 23 customer service centers in Ukraine.

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More than 300 road accidents occurred in Ukraine last year due to fault of foreign drivers with “Green Card” insurance policy

Due to the fault of foreign drivers with a valid insurance contract “Green Card” last year in Ukraine there were 315 road accidents (RTA).

As reported in Facebook Motor (transport) Insurance Bureau of Ukraine, according to the law of Ukraine on compulsory insurance of motor liability, in such cases the damage to the injured driver is compensated at the expense of the Insurance Guarantee Fund of the MTSBU.

“Such regulatory payment is carried out on the terms and amounts established by the legislation of Ukraine and the principles of mutual settlement of damage on the territory of the member countries of the international system of automobile insurance “Green Card”, it is noted in the message.

ITSBU is the only association of insurers carrying out compulsory insurance of civil liability of owners of land vehicles for damage caused to third parties.

“Green Card” – a system of insurance protection of victims in a traffic accident regardless of the country of their residence and the country of registration of the vehicle. “Green Card” covers the territory of 45 countries in Europe, Asia and Africa.

According to the decision adopted by the General Assembly of the Council of the Bureau of the International Motor Insurance System “Green Card” in Luxembourg in May 2004, Ukraine is a full member of this system since January 1, 2005.

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Germany sends demining equipment and weapons to Ukraine

Germany is sending equipment and weapons to Ukraine: the new military aid package includes 14,000 rounds of 155 mm artillery ammunition, 4 WISENT 1 demining vehicles, 3 mobile remote-controlled and protected demining systems, and 250 demining kits, the German government website reported on Monday.

According to the published updated list of military aid delivered to Ukraine, it also includes 10 Vector reconnaissance UAVs with spare parts; 22 anti-drone systems; 12 SatCom terminals; 4 vehicles for border guards; and materials for the disposal of explosive ordnance;

The package was provided by the resources of the Federal Armed Forces and government-funded industry.

It is noted that about 5 billion euros (2023) and about 1.6 billion euros (2022) have already been spent on military assistance to Ukraine. An additional 2.9 billion euros were allocated in the first two years of the war for aid that will be received only in 2025-2028.

In total, since February 24, 2022, Germany has supplied materials from the Federal Armed Forces’ stockpiles worth approximately €5.2 billion. In addition, more than 10,000 Ukrainian soldiers have received military training in Germany. The cost of this training is currently about €282 million.

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DIM Group is developing format of income real estate in form of apart-hotels

DIM Group is developing a format of income-producing real estate, apartments with hotel services as part of its projects, said Daria Bedia, Marketing Director of DIM Group, in response to an inquiry from Interfax-Ukraine.

“We are considering the option of income-producing real estate – an apartment format managed by a professional operator – as part of our projects. This is a separate product that we are actively developing. In two of our projects, we have designed apartments with hotel services as part of residential development,” Bedia said.

According to her, the added value for future investors includes better service for owners of well-known operators, the ability to comfortably accommodate relatives and friends in their homes without violating their privacy, and a well-developed internal infrastructure.

“Apart-hotels are becoming a center of attraction for additional services: spa, restaurant, coworking, children’s areas, etc.”, Bedia added.

DIM Group was founded in 2014 and consists of six companies covering all stages of construction. To date, it has commissioned 12 buildings in six residential complexes with a total residential area of over 218 thousand square meters. Six residential complexes of “comfort+” and “business class” categories are under construction: “New Autograph, Metropolis, Park Lake City, Lucky Land.

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2022-2024 goods trade balance forecast (USD billion)

2022-2024 goods trade balance forecast (USD billion)

Source: Open4Business.com.ua and experts.news