Business news from Ukraine

Business news from Ukraine

Ostchem plants produced 1.3 mln tons of mineral fertilizers

The plants of nitrogen holding Ostchem produced 1.33 million tons of mineral fertilizers in January-September 2024, down 15.3% from the same period in 2023, the holding said in a statement on Thursday.
According to the report, Cherkasy-based Azot produced 1.06 million tons of mineral fertilizers, down 13.11% year-on-year, and Rivne Azot produced 304.9 thousand tons, down 12.2%.
Production declined for all major types of nitrogen fertilizers.
Ammonium nitrate production decreased by 16.09% to 547.6 thousand tons. UAN production, which had previously shown the highest growth rate, fell by 11.68% to 417.9 thousand tons. The biggest drop in Ukrainian production was for such fertilizers as urea, down 20.17% to 263 thousand tons, and UAN, down 48.9% to 18.9 thousand tons. Production of commercial ammonia also decreased by 11.4% to 43 thousand tons.
“Today we produce as much as the market is ready to consume. Our plants were unevenly loaded in 2024 and are still not operating at full capacity. However, the hot season has now begun, and production capacity is being utilized more. Despite rising gas prices, blackouts, and increased imports from Russia-friendly countries, we are on track to meet our production targets. Ukrainian fertilizers for the agricultural sector are produced in accordance with commercial contracts, and not a single delivery has been disrupted this year,” said Sergiy Pavlyuchuk, Chief Operating Officer of Ostchem.
He added that Cherkasy Azot and Rivne Azot continue to improve the production process and implement modern energy saving solutions. In particular, the installation of an in-house power generation system helped reduce electricity consumption by 40%.
As reported, on April 12, 2024, Group DF International and South Korean Hyundai Engineering signed a large-scale agreement to build a chemical hub in Rivne. The project envisages the construction of green ammonia and hydrogen plants based on renewable energy sources; new enterprises and production sites for the production of nitrogen fertilizers and chemical derivatives.
Ostchem is a nitrogen holding of Dmitry Firtash’s Group DF, which unites the largest mineral fertilizer producers in Ukraine. Since 2011, it has included Rivne Azot and Cherkasy Azot, as well as Severodonetsk Azot and Stirol, which are out of operation and located in the occupied territories.
Cherkasy Azot PJSC (Cherkasy, Ukraine) is one of the largest Ukrainian chemical enterprises. The design production capacity is 962.7 thousand tons of ammonia per year, 970 thousand tons of ammonium nitrate per year, 891.6 thousand tons of urea, and one million tons of UAN per year.
Rivne Azot is one of the largest Ukrainian chemical companies in Western Ukraine. On April 12, 2024, Group DF and South Korean Hyundai Engineering signed an agreement to build a chemical hub in Rivne. The project envisages the construction of green ammonia and hydrogen plants based on renewable energy sources; new enterprises and production sites for nitrogen fertilizers and chemical derivatives.

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Dynamics of changes in discount rate of NBU – from 2013 to 2024

Dynamics of changes in discount rate of NBU – from 2013 to 2024

Open4Business.com.ua

Austrian Embassy in Ukraine held solemn diplomatic reception in Kyiv

On October 24, 2024, Ambassador Extraordinary and Plenipotentiary of the Republic of Austria to Ukraine Dr. Arad Benkyo held a solemn diplomatic reception in Kyiv on the occasion of the main Austrian National Holiday, which has been celebrated on October 26 every year since 1965. On this day in 1955, the Austrian Parliament adopted the Federal Constitutional Law on Permanent Neutrality, which defines the policy of the Alpine Republic – not to participate in war, not to allow the establishment of military bases of foreign countries on its territory and never join any military alliances in the future. Although Austria is a member of the European Union, the country has renounced membership in NATO.
On this occasion, numerous guests – partners and friends of Austria – gathered in the capital’s Hilton Kyiv hotel to celebrate this special day together. These are representatives of foreign diplomatic missions in Ukraine, representatives of government agencies, including the Deputy Minister of Foreign Affairs of Ukraine Yevhen Perebiynis, representatives of Austrian companies in Ukraine, educators.
The event solemnly began with the singing of the anthems of the Republic of Austria, Ukraine and the European Union.
Dr. Arad Benjo, Ambassador Extraordinary and Plenipotentiary of the Republic of Austria to Ukraine, and Yevhen Perebiynis, Deputy Minister of Foreign Affairs of Ukraine, addressed the guests with welcoming remarks.
On June 24, 1992 diplomatic relations between Ukraine and Austria were established.
On June 24, 1992 the Austrian consulate in Kiev was transformed into the Embassy. Austria is the only country that has not formalized the diplomatic recognition of Ukraine, as it believes that the fact of Ukraine’s membership in the UN and a number of international special organizations is a sign of Ukraine’s recognition by the world community in 1945.

Source: https://www.facebook.com/UkrDiplomatic

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Ukraine topic could split South Africa’s government

There is discord in South Africa’s unity government, with Ukraine as the trigger within the new coalition with no foreign policy cohesion.

South Africa has experienced a number of firsts this year. Most notably, a Government of National Unity (GNU) came to power. It is comprised of the once dominant African National Congress (ANC), the former opposition Democratic Alliance (DA) and several smaller parties. The coalition is the first of its kind in modern South Africa.

But barely four months after it was formed, the main coalition partners are clashing over Ukraine. Home Affairs Minister Leon Schreiber triggered the discord when he signed a reciprocal agreement with Kyiv for visa-free travel for diplomatic passport holders.

The DA politician called Ukraine a “valued ally and friend” and explained that he was looking forward to seeing President Cyril Ramaphosa attach his signature. What followed his made it obvious that Schreiber had acted on own initiative.

A spokesman for Ramaphosa, who heads the GNU and the ANC, said: “It is unclear how the minister can announce the signing of an international agreement without prior formal approval.”

That statement by Vincent Magwenya has sparked speculation of even more critical reactions from the president behind the scenes.

No cohesion in foreign policy

The two leading coalition partners are known to have different ideas on foreign policy.

“There is no cohesion between the ANC and DA on foreign policy issues, there are no discussions, and so the differences will come to light,” political analyst Daniel Silke told DW.

The two parties are still tussling as a test of the extent to which they can still differentiate themselves from each other, he said.

Silke believes the timing of the announcement on the visa deal with Ukraine undermines the historical ties between the ANC and Moscow that predates Russia’s war in Ukraine.

There was no question that Ramaphosa would traveled to Russia for the BRICS summit . Russia was a “valued ally” of South Africa, Ramaphosa. Schreiber would later use those exact words to refer to Ukraine.

Ramaphosa’s warm relationship with Russian President Vladimir Putin. It has earned him sharp criticism from DA Chairman John Steenhuisen. The DA, according to Steenhuisen, does not recognize an authoritarian regime, especially one that is involved in a controversial military conflict, as a legitimate ally.

No DA cabinet minister accompanied Ramaphosa to the BRICS summit in Kazan.

Dissatisfaction in the unity government

In an interview with the South African Broadcast Corporation (SABC), political analyst Lesiba Teffo found no reason to fuss over the remarks by the DA chairman.

“This is no surprise to me, the DA has never taken a pro-Russian position in its history to embace Russia, the party takes it cues mainly from the West, the United States,” Teffo said.

The DA is seen as business-friendly and active in engaging Western governments. The ANC, on the other hand, pursues closer relations with its partners in BRICS countries — Russia, Brazil, India and China, and, more recently, Ethiopia, Egypt, Iran and the United Arab Emirates (UAE).

The ANC has applied a policy of non-alignment since it entered government after decades as an apartheid liberation movement.

The ANC and the DA need to show more maturity, according to Teffo. “They simply have to make peace with the fact that they have to work together.”

In principle, the ANC supports the agreement with Ukraine — the previous ANC all-party government had even initiated the plans. The presidential spokesperson, Vincent Magwenya, admitted that talks with Ukraine on the visa waiver began in 2020, but there were delays due to the pandemic.

“The agreement will facilitate the travel of our high-ranking officials participating in the talks on the peace formula,” he said. The imminent signing had also been announced on the president’s website before Schreiber made the move public. However, some agreements with Ukraine were still to be finalized before the planned signing. Ukraine had wanted to obtain visa waivers for all its citizens.

GNU will not fail because of its foreign policy

Moletsi Mbeki, the Chairman of the South African Institute of International Affairs (SAIIA) and brother of former President Thabo Mbeki, sees the discord within the GNU as somewhat exaggerated.

In an interview with broadcaster Newzroom Afrika, Mbeki said cabinet ministers must adhere to an existing protocol of communication and announce decisions via official government channels, whether it suits the DA or not.

Daniel Silke, the political analyst, believes that the controversy over Ukraine reflects a general dissatisfaction within the GNU. But the alliance is expected to pursue a coherent national foreign policy.

The ANC appears annoyed that what has been a national policy is now being questioned by the DA.

“In terms of the coalition agreement, the ANC expected that, as the larger party, it would continue to set the foreign policy direction in South Africa, which is clearly much more Russia-friendly than the DA’s policy,” Silke told DW.

Disagreements over policy issues within the GNU are likely to continue beyond the honeymoon period of the ANC-DA led coalition, according to Silke.

South Africa is in a deep economic crisis with high unemployment, price increases, recurring power cuts and a desolate infrastructure. The outlooks of the ANC and the DA have diverge often when solutions are discussed.

“Foreign policy can create tensions, but the GNU will not fail because of this,” said Silke.

Source: https://www.dw.com/en/ukraine-throws-up-cracks-in-south-africas-unity-government/a-70648424

Consumer prices in Germany increased by 2.4% in October

Consumer prices in Germany, harmonized with EU standards, increased by 2.4% in annual terms in October 2024 after rising by 1.8% a month earlier, according to preliminary data from the Federal Statistical Office (Destatis). Compared to the previous month, consumer prices increased by 0.4%.

In September, a drop of 0.1% was recorded in monthly terms. Analysts on average had forecast a 2.1% rise in annual terms and a 0.2% rise in monthly terms.

Consumer prices, calculated according to German standards, increased by 2% in annual terms in October. They rose by 0.4% compared to September. Experts had expected a 1.8% rise in annual terms and a 0.2% rise in monthly terms.

http://relocation.com.ua/spozhyvchi-tsiny-v-nimechchyni-v-zhovtni-zrosly-na-2-4/

 

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Ukraine and China are working to open Chinese market for Ukrainian peas, poultry, corn and fish products

Ukraine and China are working on opening the Chinese market for Ukrainian peas, poultry meat, corn and fish products, the press service of the State Service for Food Safety and Consumer Protection said.

“China is an important market for agro-products for national exporters, therefore, on behalf of the Chairman of the State Consumer Service Sergiy Tkachuk, constant interaction between the service and the competent authority of the PRC continues. Our goal is to open seven new markets. This is a long-term process of coordination, but step by step we are succeeding,” said First Deputy Head of the State Consumer Service Oleg Osiyan at a meeting with representatives of the General Administration of Customs of the People’s Republic of China (GACC).

The parties discussed draft bilateral international agreements on export of peas, wheat flour, pet food, beef, corn, poultry meat, wild-caught aquatic products from Ukraine to China. Each of the above documents is at a different stage of elaboration and harmonization.

“While the protocol on peas is at the stage of finalization of domestic harmonization in Ukraine, the texts have been sent for consideration to the competent authority of China. This is one of the markets at the final stage of opening. After the signing of the bilateral protocol, new opportunities for Ukrainian agrarian business to export peas will open up,” Deputy Head of the State Consumer Service – Chief State Phytosanitary Inspector of Ukraine Vadym Chaykovskyy emphasized.

It is recalled that the last Ukrainian product, for which the access to the Chinese market was opened, was honey. The form of health certificate for its export was agreed earlier this year.

Requirements of the destination countries of the export of food products of animal and plant origin are publicized on the official web portal of the State consumer service.

“Currently under consideration of Chinese colleagues – draft protocols on the export of poultry meat and fish. The State Consumer Service sent its proposals on the text of the protocol in the fall. The protocol on wild-caught aquatic products has already undergone domestic harmonization and is at the stage of final approval by the Chinese side. The texts of protocols on beef and pet food are also undergoing the stage of domestic approval,” said Volodymyr Kusturov, Deputy Head of the State Consumer Service – Chief State Veterinary Inspector of Ukraine.

Representatives of the State Consumer Service and GACC discussed in detail the steps of further cooperation, draft bilateral agreements, and agreed to continue active cooperation on the development of international trade between Ukraine and China.

 

 

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