Corteva Agriscience, an international agricultural research company, has increased the number of Pioneer® corn seed hybrids grown on the production fields of the company’s seed complex in Poltava region by 2.6 times to 24, according to a press release.
According to the report, the portfolio of Ukrainian corn seeds in 2024 will include hybrids of the Pioneer Optimum AQUAmax line.
In addition, in 2023, the seed team began growing corn hybrids popular in the European Union markets, as its long-term production strategy in Ukraine is to increase the share of exports to the EU.
The company reminded that in 2022 Corteva increased its exports to the EU 16 times.
In the current season, according to the company, 80% of seed crops were grown on irrigated fields, and 15% of the crops were grown using StripTill technology, which helps to preserve soil moisture and prevent erosion. Precision farming was introduced on more than 80% of the production area. A system of differential crop density was introduced.
“During the 10 years of operation of Corteva’s seed complex in Ukraine, everything has been done to provide farmers with high quality seeds of Ukrainian production. (…) We are convinced that seed production in Ukraine has a great future and Corteva strives to be a leader here,” Oleksiy Turchynov, Head of Production in Ukraine at Corteva Agriscience, was quoted by the press service as saying.
The company’s seed complex in Poltava region was officially opened in June 2013. More than $56 million was invested in its construction. The annual capacity of the plant is about 500 thousand sowing units of corn seeds and 250 thousand sowing units of sunflower seeds.
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 presence in Ukraine includes the headquarters in Kyiv, a research center in Liubartsi village (Kyiv region) and a seed production complex opened in 2013 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.
Japanese Foreign Minister Hayashi Yoshimasa has announced the transfer of 24 crane trucks to Ukraine to help clear the territory of unexploded ordnance and two powerful transformers in preparation for winter.
“Last year, Russian attacks on infrastructure forced Ukrainians to live without electricity and heating. In this context, it is very important to prepare well for the winter. I have informed that Japan is handing over two large transformers by the end of September as an aid. Also, today there will be a ceremony of handing over 24 trucks with cranes to help clear the territory of ammunition,” he said at a joint press conference with Ukrainian Foreign Minister Dmytro Kuleba.
He also said that the Japanese government has decided to reopen the Japan International Cooperation Agency (JICA) office in Kyiv in the near future.
Hayashi Yoshimasa also welcomed Ukraine’s efforts to establish long-term peace in the country, including President Zelensky’s “peace formula”.
“We have agreed with Minister Kuleba that Ukraine and Japan will work together to call on the international community, including the Global South, to achieve this goal,” the Japanese Foreign Minister said.
In addition, he noted that during today’s meeting with Ukrainian President Volodymyr Zelenskyy, they agreed to start negotiations on a separate bilateral document between Ukraine and Japan based on the G7 Joint Declaration of Support for Ukraine.
“We will coordinate to ensure that the first round of consultations takes place as soon as possible,” the minister said.
The Japanese minister also said that he had visited the town of Bucha in Kyiv region.
Number of vacancies as of 01.08.2023 (thousand units) according to data of state employment center
Source: Open4Business.com.ua and experts.news
Ukrainian farmers have already harvested 34 million tons of grain, Prime Minister Denys Shmyhal said.
“The harvest is underway. As of today, 34 million tons of grain have been harvested. In particular, 22 million tons of wheat,” Shmyhal said at a government meeting on Friday.
According to the prime minister, the domestic demand is about 6-7 million tons per year, so Ukraine feels quite confident in food security.
“We continue to work on expanding our export potential. It is important for our economy and important for global food security,” he added.
Lithuania on Friday handed over 4.5 million units of ammunition to Ukraine, the country’s Defense Ministry said.
According to the ministry, the military aid transferred by Lithuania to Ukraine until the fall of this year includes Mi-8 helicopters, L-70 anti-aircraft guns with ammunition, M113 armored personnel carriers, millions of rounds of ammunition, and ammunition for grenade launchers.
In the near future, Ukraine will also receive launchers of NASAMS mobile air defense missile systems, anti-drone systems, logistics and other auxiliary equipment.
The Ministry of Defense noted that, in addition to the transfer of military equipment, Lithuania is actively training Ukrainian soldiers, providing medical and rehabilitation assistance, and consulting experts.
Lithuania’s assistance to Ukraine has reached EUR 0.5 billion since the end of February 2022 and will continue, the ministry said. A military aid package of EUR200 million is envisaged for 2024-2026. The total amount of Lithuania’s assistance to Ukraine is more than EUR1 billion, or more than 1.2% of the country’s gross domestic product, half of which is military aid.
The Ministry of Economy has raised its forecast for Ukraine’s gross domestic product (GDP) growth in 2023 to 4%, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko said in Kyiv on Saturday at the annual meeting of the Yalta European Strategy organized by the Victor Pinchuk Foundation.
“This year, we believe that GDP growth will be 4%, although pessimists believe that 3%… We have maintained macro stability, this is the basis for further recovery of Ukraine,” she said.
Svyrydenko clarified to Interfax-Ukraine that the government has not yet approved the forecast for 2024, while the National Bank of Ukraine expects GDP growth of 3.5%, and up to 6.8% in 2025.
“We are always more optimistic than the National Bank,” the First Deputy Prime Minister and Minister of Economy said.
She added that inflation, according to the NBU’s forecast, will slow to 10.6% this year, and core inflation to 9%.
In her speech, the First Vice Prime Minister also reminded that the NBU had recently cut the discount rate to 22% per annum.
“As a participant in this discussion, I will say that I was in favor of a bigger reduction. I think that our macroeconomic situation allows us to be more flexible, but, as always, realistic,” Svyrydenko said.
According to her, the Ministry of Economy sees improvements in the agricultural sector and expects that in November a working instrument for military insurance will be created through the efforts of both the Ukrainian government and the European Bank for Reconstruction and Development (EBRD).
The First Deputy Prime Minister emphasized that the government is also actively working on a four-year development plan under the Ukraine Facility program announced by the EU, which will start operating in early 2024 and will become the basis for further growth of its economy.
As reported, in June, the Ministry of Economy slightly downgraded its GDP forecast for this year from 3.2% to 2.8% due to the destruction of the Kakhovka hydroelectric power plant and pessimistic expectations for the upcoming harvest. According to Natalia Gorshkova, Director of the Strategic Planning and Macroeconomic Forecasting Department of the Ministry of Economy, in early August, the Ministry had already assumed economic growth of 5% in 2023, but so far it has conservatively maintained the 2.8% estimate, taking into account the existing risks. At that time, the Ministry of Economy predicted that GDP growth would accelerate to 5% next year, with inflation slowing to 10.8%.
At the end of July, the National Bank of Ukraine raised its forecast for Ukraine’s GDP growth in 2023 from 2% to 2.9%, but lowered it for 2024 from 4.3% to 3.5%. In addition, the NBU improved its inflation estimate this year from 14.8% to 10.6%, and next year to 8.5%.
In August, inflation in Ukraine fell to 8.6% in annual terms.
The Experts Club research project and Maksym Urakin recently released an analytical video about the economies of Ukraine and the world – https://youtu.be/zCJ1cU3n0sY?si=LFj-pDmojahwtHkA
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