KYIV. Oct 19 (Interfax-Ukraine) – Kernel Holding S.A., one of the largest Ukrainian agricultural groups, entered on October 16, 2017, into pre-export credit facility with a syndicate of European banks a limit of $200 million.
The three-year secured revolving facility will be used by Kernel to fund the working capital needs of its sunflower oil production business in Ukraine, the company said in a statement on the Warsaw Stock Exchange website
As reported, the company will invest $130 million in the construction of an oilseed crushing plant in Khmelnytsky region by 2020
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 the world markets. Since 2007 the company’s shares have been traded on the Warsaw Stock Exchange (WSE).
KYIV. Oct 19 (Interfax-Ukraine) – The State Service for Geology and Deposits has issued nine special permits for subsoil use to PJSC Ukrgazvydobuvannia and resolved most of the problem issues that existed between the agency and the company, the service’s press office has reported.
“Ukrgazvydobuvannia issued nine special permits for the use of mineral resources, including four of them for new subsoil deposits (Rozumivsko-Mazharivsky, Merchenkivsky, Tarkhanivsky, Maksymets-Bystretska area), two of them extending the period of validity of the previous special permits (Butsivska area, Stepne), two more on the introduction of changes (on the Kulychykhinsky and Kosivsky fields), and one for the extraction of hydrocarbons (Dobrianske deposit),” the press service said.
Successful talks between the State Service for Geology and Deposits and Ukrgazvydobuvannia were held on October 18.
Ukrgazvydobuvannia, fully owned by Naftogaz Ukrainy, is the country’s largest gas producer, providing about 75% of the country’s total gas production.
KYIV. Oct 18 (Interfax-Ukraine) – Ukrainian Prime Minister Volodymyr Groysman has said that Ukraine is interested in creating a hub for Ukrainian exporters of agricultural products in Malta with access to the North African and Mediterranean markets.
“I am pleased to welcome President of Malta Marie-Louise Coleiro Preca for the first time in Ukraine, for the first time on a state visit in the history of our diplomatic relations. Ukraine and Malta have visibly stepped up cooperation recently, and it was during Malta’s presidency of the EU that the most important decisions were made for us – the introduction of a visa-free regime and the completion of the ratification of the Association Agreement with the EU,” Groysman wrote on his Facebook page on Tuesday.
“There is an interest to create a hub in Malta for Ukrainian agricultural exporters, with subsequent access to the markets of North Africa and the Mediterranean,” he added.
Groysman expressed confidence in fruitful cooperation and “maximum strengthening of mutual trade and investment relations” between the two countries.
KYIV. Oct 18 (Interfax-Ukraine) – The United States Department of Agriculture (USDA) has downgraded its forecast for maize exports from Ukraine in the 2017/2018 marketing year (MY, July-June) by 500,000 tonnes compared to the forecast in September, to 21.5 million tonnes.
According to a report on the website of the U.S. department, the forecast for corn yield in 2017 is also reduced by 500,000 tonnes, to 27 million tonnes, compared to the September forecast.
In general, the USDA predicts grain harvest in Ukraine in 2017 at the level of 63.49 million tonnes, including 26.5 million tonnes of wheat.
According to the forecasts of the U.S. agency, grain exports in the 2017/2018 MY will amount to 42.81 million tonnes, of which wheat is 16.5 million tonnes.
As reported, with reference to the preliminary data from the Ministry of Agrarian Policy and Food, grain and flour exports in the 2016/2017 MY totaled 44.44 million tonnes.
KYIV. Oct 18 (Interfax-Ukraine) – The State Property Fund of Ukraine (SPF) plans in 2018 to sell Odesa Port-Side Chemical Plant, Centrenergo, Turboatom, six regional power supply companies, the Agrarian Fund, the State Food and Grain Corporation of Ukraine, acting SPF head Vitaliy Trubarov has stated.
“The fund expects the transfer of the Agrarian Fund and the State Food and Grain Corporation of Ukraine. As for Turboatom, we are now working with the Cabinet to determine the size of the stake which will be put up for sale,” he said at a meeting of the American Chamber of Commerce.
Trubarov informed that an inventory has already been completed at Odesa Port-Side Chemical Plant, while the starting price of the enterprise will be determined in November.
“In November we will get the starting price, and in December this year, if all participants in the process meet the deadlines, we’ll manage to start accepting applications from potential investors so that we could start the sale itself in spring 2018,” the SPF head said.
KYIV. Oct 18 (Interfax-Ukraine) – Transnational Indian pharmaceutical companies operating in Ukraine remain committed to the drug affordability strategy, according to Dr. Ramanan Menon, the head of the Indian Pharmaceutical Manufacturers’ Association (IPMA).
“Most transnational Indian companies are currently present on the Ukrainian market. These companies supply good-quality goods at an affordable price. These medicines have always been in demand among Ukrainian patients,” he told Interfax-Ukraine, while commenting on the presence of Indian pharmaceutical companies on the Ukrainian market.
According to Dr. Menon, Indian pharmaceutical companies supply mainly generics and branded generics to Ukraine. At the same time, many Indian pharmaceutical companies are working towards the development of innovative drugs, having their own research centers.
While commenting on the participation of Indian pharmaceutical companies in the procurement of medicines for state budget funds, the IPMA chief noted that the results of budget purchases, in particular, on HIV/AIDS and tuberculosis treatment programs, had confirmed the effectiveness of procurement of drugs manufactured by Indian pharmaceutical companies.
“Last year’s results show that Indian companies have a significant share. They all have WHO prequalification and are quite affordable,” he said.
According to him, in particular, there is a high share of Indian pharmaceutical companies in the segment of anti-tuberculosis and antiretroviral drugs, in the production of which India has always been among the world leaders.
So, according to the Business Credit company, in 2016, Ukrainian clinics used Indian drugs to treat HIV/AIDS for an amount exceeding $326,000 (50,600 packs), and over $10.855 million (1.904 million packs) was spent on drugs to treat tuberculosis. According to some positions, the share of Indian drugs in this category reaches almost 57% of purchased drugs.
The IPMA head noted that currently more than 80% of antiretroviral drugs used globally to fight AIDS are produced by Indian pharmaceutical companies. In particular, the Medicines Patent Pool, an UN-funded patent organization, signed six sub-licenses with Indian pharmaceutical companies Aurobindo, Cipla, Desano, Emcure, Hetero Labs and Laurus Labs, which allowed them to create a new drug to treat AIDS – generic Tenofovir Alafenamide (TAF) for 112 developing countries.
“I can state that the share of Indian pharmaceutical manufacturers in budget purchases has not decreased. International organizations that purchase medicines under these programs for state budget funds have the opportunity to purchase them directly at the central offices of pharmaceutical companies, so trading are also manufacturers who were previously not present on the Ukrainian market,” he said.
The IPMA head noted that Indian pharmaceutical companies were implementing a strategy to increase the affordability of medicines.
“A high-quality and effective drug is not always the most expensive. Of course, generics are cheaper than original drugs. The expansion of the presence of high-quality generics is one of the tools to increase the affordability of drugs. Therefore, Indian companies have a demand in various markets of the world. The consumer is not the same in terms of capabilities and needs, and therefore generics have a demand even in developed markets, where the income of the population is high, and in countries with strict regulatory policies, where quality is paramount,” he said.
