Due to the drought observed in Ukraine, autumn winter crops have already been partially lost, at the same time, the prolonged lack of precipitation intensifies the pace of the harvesting campaign and contributes to high quality corn grain, according to the analytical cooperative “Pusk”, established within the framework of the All-Ukrainian Agrarian Rada (VAR).
“The forecast model does not show precipitation in Ukraine in the near future. Therefore, the moisture content of corn grain remains low, averaging 17-20%, while in the past season it was 30-35%. This will help reduce the cost of corn grain, as one drying cycle is enough for the harvested crop,” analysts said.
They noted that in early October, agrarians will intensify the collection of corn, because they will complete the harvesting of sunflower and soybeans.
At the same time, it is noted that the shelling of ports in Odessa and Danube region hinders the export of corn. At the same time, this product is in demand from China exclusively on CIF basis with delivery in October-December at a conditional price of $250/ton.
“On all bases weekly price tags for Ukrainian corn lose 3-5$/ton. The supply of its grain is high, but logistical problems are and will continue to be a factor in the fall of prices, especially in the deployment of the harvesting campaign”, – explained in the CAP and added that in a week we can expect the following level of prices for 1 ton of corn: SRT river ports – 140-150$, DAP border – 145-155$.
Forecast of changes in discount rate of National bank of Ukraine, %
Source: Open4Business.com.ua and experts.news
In August 2023, Guardian Insurance Company (Kyiv) collected UAH 109.5 million in payments, which is 22.94% more than in the same period a year earlier, according to the insurer’s website.
It is also reported that in August, the company increased insurance payments by 32.13% compared to the same period a year earlier – up to UAH 35.05 million.
Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. In January 2020, it became a full member of the MTIBU and has the right to sell Green Card policies.
In October 2020, by the decision of the general meeting of members of the Nuclear Insurance Pool of Ukraine, Guardian Insurance Company became a member of the pool.
Norway will allocate an additional NOK 1 billion ($92 million) to provide Ukrainians with access to protection and vital assistance, according to a statement on the government’s website.
“The civilian population of Ukraine has suffered greatly as a result of the brutal war waged by Russia. The efforts of the Ukrainian people to combat the daily attacks on civilians and civilian infrastructure have been heroic. They need our help to survive another winter of war,” said Foreign Minister Anneken Huitfeldt.
She was speaking at the opening of the third Senior Humanitarian Officials Meeting on Ukraine, which is being held in Oslo jointly by Norway and the EU.
The meeting is focused on the difficult humanitarian situation caused by the war in Ukraine, as well as on the rapid provision of necessary assistance to the civilian population. In addition, the transition from short-term humanitarian aid to long-term recovery efforts will be discussed.
It is noted that the 150 participants of the meeting include representatives of the Ukrainian authorities, the UN, the International Red Cross and Red Crescent Movement, humanitarian organizations and donor countries.
According to UN estimates, more than 17 million people in Ukraine need humanitarian assistance. Around 5 million people are internally displaced, and more than 6.2 million people have fled the country to seek refuge in other countries because of Russia’s attack.
Humanitarian funding is channelled through the UN, including the Ukrainian Humanitarian Fund and the International Red Cross and Red Crescent Movement.
The Ministry of Agrarian Policy and Food estimates the harvest of the 2023 season at 79 million tons, which is at least 7 million tons more than last season, Minister of Agrarian Policy Mykola Solsky said on the air of the United News marathon.
“In May, at the beginning of the sowing season, we thought we would have about 63-64 million tons. Then we raised the forecast to 67-68 million, then more – 70 million. Last year we had a result of 7 million tons, then 75 million tons. In the last two weeks, we have been talking about the harvest, which will probably be around 79 million, which is at least 7 million more than last year,” he said.
Mr. Solsky reminded that farmers are no longer concerned about yields and gross output, but rather about the price at which they can sell their crops.
“It is very important that we have the opportunity to sell at a higher price. It is important how much we can export. After all, we need to be able to export 5 million tons of grain every month,” the minister explained, adding that logistics are very expensive and grain is not cheap.
Mr. Solsky emphasized that the demand for logistics is now significantly higher than the supply, and pointed out the importance of balancing these indicators.
“We are trying to do our best to bring this balance closer to what is needed (by the farmer – IF-U), so that the price (of grain – IF-U) will rise,” the minister emphasized.
The Pechersk District Court of Kyiv on Tuesday imposed a pre-trial restraint in the form of detention with the possibility of bail in the amount of UAH 999 million 991 thousand on Viktor Lotous, chairman of the board of Poltava Mining and Processing Plant, which belongs to the Ferrexpo group of companies owned by MP of the VII and VIII convocations Konstantin Zhevago.
According to the website of the Office of the Prosecutor General of Ukraine, without specifying the names of the suspect and the owner of the group of companies, the court made the decision at the request of prosecutors from the Specialized Environmental Prosecutor’s Office.
According to Ferrexpo’s website, Viktor Lotous is the Chairman of the Board of Poltava Mining.
According to the Prosecutor General’s Office, the suspect was taken into custody in the courtroom.
As reported, on September 22, Lotous was served with a notice of suspicion of illegal mining worth over UAH 157 billion. He is charged with illegal mining and abuse of power committed by a group of persons by prior conspiracy (Part 2 of Article 28, Part 4 of Article 240, Part 2 of Article 364-1 of the Criminal Code of Ukraine).
According to the investigation, he, in collusion with other unidentified officials of the mining and processing plant, set up an illegal scheme for the use of minerals. The company, licensed to mine only iron ore, illegally processed and sold other minerals obtained in the course of mining. They processed them and produced crushed stone of three different fractions, which were sold to business entities. Thus, from 2015 to 2021, more than 20 million cubic meters of minerals were illegally extracted, and the amount of damage caused is more than UAH 157 billion.
On January 10, 2023, the State Bureau of Investigation conducted several searches in connection with the investigation of the alleged illegal extraction of minerals and their subsequent sale. The National Police of Ukraine also investigated the same case and conducted searches and took samples from the dumps on January 17. On June 29, 2023, the SBI served suspicion notices to three members of the top management of the Mining and Processing Plant and the head of one of its divisions on suspicion of selling crushed stone without a permit. The employees were detained by the SBI and later released after posting bail totaling UAH 122 million, which was approved by the court.
Ferrexpo’s semi-annual report stated that the company continues to monitor and analyze the situation with the allegations against the company’s management. “The position of the company is that the minerals in question are not a separate mineral resource, but are waste products obtained as a result of crushing iron ore during the technical process of iron ore pellets production,” the report stated.
The report explains that crushed stone sales were controlled by the State Service of Geology and Subsoil of Ukraine for many years and were discontinued by the group in September 2021. “It is the position of the Group that based on the existing mining license, the Group complies with the relevant legislation. The Group continues to monitor and analyze the situation regarding the suspicions announced by the SBI,” the company’s report summarized.
Earlier, the SBI issued a press release claiming that the plant’s executives had illegally seized almost UAH 400 million from the extraction and sale of minerals of national importance without the appropriate permits, and “cash from the sale was withdrawn through conversion centers and distributed among members of the criminal group.” “SBI officers, in cooperation with the SBU and the Prosecutor General’s Office, served suspicion notices to the management of the company: the management of the plant’s board, heads of departments through which the company’s financial transactions were carried out, and the management of the company through which the fraud was carried out,” law enforcement officials said in a statement.
Ferrexpo is an iron ore company with assets in Ukraine, owning a 100% stake in Yeristovo Mining, 99.9% in Bilanivsky Mining and 100% in Poltava Mining.
