Business news from Ukraine

Business news from Ukraine

Corteva Agriscience has received international Heubach test certificate

The Seed Treatment Technology Laboratory of the production complex of the international agricultural research company Corteva Agriscience has passed international round tests to determine the dust content of treated seeds (Heubach test) and received a certificate of high quality of seed protection products and seed safety for consumers and the environment, the company’s press service reports.

“Corteva Agriscience’s seed treatment allows farmers to effectively protect their crops during germination and plant formation. This is a full-fledged comprehensive protection against the risks associated with soil pests and diseases, seed diseases, as well as pests and nematodes that affect plants in the early stages of crop development, when the disease can lead to complete loss of crops,” said Stepan Derkach, Category Marketing Manager for Corteva Agriscience Seed Treatment Technologies in Ukraine.

Opened at the end of 2021, Corteva’s Seed Treatment Technology Laboratory checks the quality of application of protection products on all seeds of premium genetics of the Pioneer® brand, which the company’s seed production complex produces for farmers in Ukraine, Europe and Central Asia.

The Heubach test is a laboratory test that assesses how much dust is generated during mechanical impact, such as during transportation or sowing of seeds. Excessive dust can not only affect the quality of seeds during cultivation, but also pose risks to human health and the environment in case of poor application of treatment products.

Corteva Agriculture is a global agricultural company. It offers comprehensive solutions to maximize yields and profitability. It has more than 150 research facilities and more than 65 active ingredients in its portfolio. The company’s representative office in Ukraine includes the headquarters in Kyiv, a research center in Liubartsi village (Kyiv region) and a seed production complex in Stasi village (Poltava region).

In April 2022, the company decided to leave the Russian market due to the full-scale war against Ukraine unleashed by Russia.

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USDA raised forecast of global oilseeds production

In the August report, the U.S. Department of Agriculture (USDA) raised the forecast of global oilseeds production in 2024/2025 MY by 4.5 mln tonnes to 690.5 mln tonnes due to the growth of soybean and rapeseed production, which partially offset the decline in sunflower, cotton, peanuts and palm kernel production.

Analysts increased global rapeseed production by 0.9 million tons to 88.8 million, mainly due to the expansion of rapeseed production in Russia. World sunflower production was reduced by 2.3 million tons to 52.5 million due to unfavorable weather conditions that affected yields in Ukraine, Russia, the EU, Turkey, Serbia and Moldova.

The USDA’s global soybean production in 2024/2025 is increased by 6.9 million tons to 428.7 million tons due to higher production in the US, Ukraine, Russia, India and Benin. Exports are increased by 1.0 million tons to 181.2 million due to higher exports to the US, Ukraine, Russia and Benin, partially offsetting lower shipments from Argentina. Soybean imports were increased for Egypt, the EU, Iran and Turkey. Global ending stocks of soybeans in 2024/25 MY increased by 6.5 million tons to 134.3 million, mainly due to higher stocks in China, the United States and Argentina, partially offset by lower stocks in Brazil.

 

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US Department of Agriculture slightly lowered forecast of corn harvest in Ukraine

In its August report, the U.S. Department of Agriculture (USDA) slightly lowered its forecast for the corn crop in Ukraine. The decrease compared to July is 1.8%, namely to 27.2 million tons (-0.5 million tons), exports – 24 million tons (-0.5 million tons), ending stocks increased to 0.73 million tons (+0.5 million tons).

World corn production is reduced to 1.219 billion tons (-0.005 billion tons), exports – to 191.47 million tons (-0.34 million tons), carry-over stocks – 310.17 million tons (-1.47 million tons).

Analysts have lowered their estimates of global corn production due to extreme heat and drought in southeastern Europe and the Southern and North Caucasus regions of Russia in July, which affected crop yields. Corn production in Ukraine was reduced, as the expansion of corn production areas was offset by lower yield expectations.

 

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2022-2024 goods trade balance forecast (USD bln)

2022-2024 goods trade balance forecast (USD bln)

Source: Open4Business.com.ua

USDA raises Ukraine wheat harvest forecast by 11%

The U.S. Department of Agriculture (USDA) in its August report raised its wheat harvest forecast for Ukraine in the 2024/2025 marketing year (MY, July 2024/June 2025) by 10.8% to 21.6 million tons, and exports by 7.7% to 14 million tons

Analysts also revised upward the domestic consumption of wheat in Ukraine by 10.5% to 7.4 million tons. Ukraine will enter the season with starting residues of 770,000 tons, while a month earlier they amounted to 1.08 million tons. USDA expects that by the end of 2024/2025 MY the country will have 1.05 mln tons of wheat, which is 9.4% higher than the July forecast.

At the same time, USDA forecasts world wheat production for the 2024/2025 season at 798.28 (+ 2.18 million tons from last forecast) and world exports at 214.86 million tons (+ 1.98 million tons). The experts lowered the forecast of wheat ending stocks in the world to 256.62 million tons (- 1.97 million tons).

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ADB to provide $400 mln for energy sector reforms in Uzbekistan

The Asian Development Bank has approved two loans to Uzbekistan totaling $400 million to implement large-scale reforms in the energy sector aimed at improving its efficiency and competitiveness, as well as developing the country’s financial markets.

ADB’s Director General for Central and West Asia, Evgeny Zhukov, said that the reforms supported by these programs will help create an enabling environment for regulators and companies to play their part in stimulating development by creating reliable domestic financial markets and meeting energy needs while fighting climate change.

ADB will provide $300 million to reform Uzbekistan’s energy sector, including creating a more effective governance structure, improving legislation, and attracting private investment.

To develop Uzbekistan’s financial market, ADB will provide $100 million to implement regulatory and institutional reforms aimed at improving market conditions to optimize financial transactions and services, and to increase supply and demand side measures to grow capital markets.

Uzbekistan joined ADB in 1995, and since then, the bank has provided $12.5 billion in loans, grants, and technical assistance to the country.

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