The First Ukrainian International Bank (FUIB, Kyiv) and Limagrain, one of the world’s largest seed companies, have updated the terms of their partnership program and introduced promotional terms for the purchase of corn seeds, the bank’s press service reports.
According to the report, now farmers can purchase these products of the LG Seeds brand of Limagrain at a rate of 0.01% per annum for 9 months.
“The advantages of the partnership program include simplicity and transparency of the process, no need for collateral valuation and notarization, and a convenient repayment schedule adapted to the seasonality of agricultural work. There is also no loan fee,” FUIB emphasized.
For more information about the terms of lending in FUIB, please follow the link or call the bank’s hotline: 0 800 501 27 (calls are not charged).
“Limagrain is a seed company founded by farmers in France more than 50 years ago, ranked fourth in the world ranking. The company has been present in Ukraine since 2008. Its main crops are corn, sunflower, rapeseed, spring and winter wheat, spring and winter barley (feed/brewing). The company’s global network of branches covers 56 countries. The company annually invests about 14% of its turnover in research.
FUIB was founded in 1991. The owner of the bank’s substantial participation is Rinat Akhmetov (indirect participation of 99.9%).
In January-September 2024, Zhydachiv Pulp and Paper Mill (ZhPPM, Lviv region) reduced its output by 16% compared to the same period in 2023, to UAH 334.23 million, according to statistics from UkrPapir Association.
According to the data provided by the association to Interfax-Ukraine, in physical terms, corrugated packaging output decreased by 13% to 14.8 million square meters, paper output by 22% to 2.6 thousand tons, and containerboard output by 32.8% to 8 thousand tons.
At the same time, in September, the plant reduced production of corrugated boxes by 8% to 1.62 million square meters by September 2023, and paper and cardboard by 24% to 1.21 thousand tons.
As reported with reference to the association’s data obtained from the main industry enterprises, in January-September 2024, Ukraine’s paper and cardboard production increased by 3.4% compared to the same period in 2023, to 444 thousand tons, and cardboard boxes by 15.6%, to 434.63 million square meters.
ZhPPM has a paper production capacity of 43 thousand tons per year (base paper for corrugating, linerboard, cover paper), cardboard production capacity of 50 thousand tons, corrugated cardboard and corrugated packaging capacity of 120 million square meters, and injection molded containers (tray for 30 eggs) capacity of 72 million units per year.
The plant has a full production cycle: from processing of technological raw materials to production of finished corrugated products and cast containers.
In 2023, the plant produced UAH 527.6 million worth of products, up 3.3% compared to 2022. According to the Clarity-project, in 2023, ZhPPM increased its net profit by 51.2% compared to 2022 to UAH 63.14 million, with net income growing by 5.6% to UAH 563.55 million.
Slavic Wallpaper-KFTP JSC (Koryukivka, Chernihiv region), a leading Ukrainian wallpaper producer, produced 12.6 million conventional pieces of wallpaper in January-September 2024, up 1.8% compared to the same period in 2023.
According to statistics provided by UkrPapir Association to Interfax-Ukraine, the factory’s output growth rate slowed even further in the first nine months of the year compared to the same period last year: it was 6.8% in the first seven months and 3.9% in the first eight months.
However, in monetary terms, the factory’s production in January-September increased slightly (by 0.8%) to UAH 957.6 million.
In September, the company produced 1.39 million meters of wallpaper, which is 12.6% less than in September 2023, but 5.2% more than in August this year.
The Association does not have data on wallpaper production in Ukraine for the first nine months of 2024, as the State Statistics Service has stopped providing it.
JSC Slavic Wallpaper-KFTB produces more than 10 types of wallpaper from the economy segment (paper, duplex, acrylic) to premium wallpaper (vinyl, non-woven, hot stamped), as well as its own latex and water-dispersion paint.
As reported, in 2023, Slavic Wallpaper-KFTB increased its wallpaper production by 19% compared to 2022, to 16.2 million meters, production volume increased by 38.2% to UAH 1 billion 249 million, and net profit increased almost eightfold to UAH 47.7 million.
Earlier, the company noted that sales volumes, especially through retail channels, had dropped significantly as a result of Russian aggression.
The Interdepartmental Commission on International Trade (ICIT) has imposed provisional anti-dumping duties on imports of radiators originating in Turkey and China in the amount of 41.86% and 42% respectively.
According to the ICIT’s announcement in the Uryadovy Courier newspaper on Friday, the decision comes into force five days after the date of publication of the announcement.
The announcement recalls that the anti-dumping investigation was initiated by the ICIT decision of 12 April 2024 based on the complaint of Ukrainian producers Sun Tech Paradise LLC and UTERM Ukraine LLC, whose share in the overall proceedings in Ukraine exceeds 50%.
The ICMT found that during the study period (January 1, 2023 – March 31, 2024), the financial and economic indicators of the national producer deteriorated, in particular, the volume of production – by 74.56%, production capacity – by 13.75%, capacity utilization – by 70.5%, and the volume of sales in the Ukrainian market – by 40.97%.
In addition, the financial result from the sale of goods deteriorated by 1606.24%, labor productivity by 59.47%, and the volume of investments in dollar terms by 78.69%.
The Commission also points out that in the first quarter of 2024, the volume of imports of radiators from Turkey and China increased by 157.13% compared to the same period in 2023 and by 21.9% compared to the first quarter of 2021.
The ICIT report also notes that the losses to the national producer from dumped imports of radiators from Turkey and China are confirmed by the fact that the volume of imports from these countries during the study period increased by 31.27% in terms of consumption of such goods in Ukraine and by 173.29% in terms of production.
The anti-dumping measures are applied to heating radiators (steel, aluminum, bimetallic) (excluding towel rails, water floor convectors and designer radiators) classified under UKT VED codes ex 7322 19 00 00, ex 7616 99 10 00, ex 7616 99 90 00.
San Tech Paradise LLC (Odesa region) manufactures plumbing products for heating, water supply, and sewage. According to its website, it has two factories in Ukraine (130 thousand square meters of production space) and produces 20 thousand tons of products per year. The company exports its products to Poland, Romania, Lithuania, Bulgaria, Georgia, and Mongolia, among others.
According to Opendatabot, in 2023, the company reduced its net profit by 40% compared to 2022, to UAH 61.2 million, while net revenue increased by 15.3% to UAH 552.2 million.
The company is owned by Andriy Kovalenko and Oleksandr Bozhko (50% each).
“UTERM Ukraine (Bila Tserkva, Kyiv region) has been operating in the steel panel radiator market since 2013.
According to Opendatabot, in 2023, the company earned UAH 6.7 million in net profit, compared to UAH 0.4 million a year earlier, with net revenue falling by 48.6% to UAH 124.3 million. The company is owned by four entrepreneurs with equal shares of 25% each.
The IMF Board of Directors on Friday completed the fifth review of Ukraine’s EFF Extended Fund Facility (EFF) program, allowing Ukraine to receive about $1.1 billion (SDR834.9 million) of the 6th tranche, which will be used for budget support.
“Despite the challenging environment, Ukraine’s economy remains resilient and EFF performance remains strong. As of end-June, the authorities had met all quantitative performance criteria and achieved the four structural beacons,” the Fund said in a press release on its website.
After the discussion, IMF Managing Director Kristalina Georgieva said that the total external financing under the 4-year program is raised from $122 billion to $151 billion in the base case and from $144 billion to $187 billion in the negative case due to new commitments under the G7 initiative to allocate $50 billion to Ukraine from the proceeds on frozen Russian assets (“Emergency Loans to Accelerate Ukraine’s Revenue Growth”, ERA).
It is stated that sustainable reforms, mobilization of domestic revenues and timely provision of external support are necessary to ensure macroeconomic stability, restore fiscal and debt sustainability and enhance institutional reforms.
It is specified that the structural beacons related to the abolition of tax exemptions, war-affected state-owned companies, customs reform and public investment management have been implemented, while the implementation of two structural beacons has been postponed to allow more time to complete the reform.
The IMF noted that the economy has been more resilient than expected in the first half of 2024, thanks to continued growth, moderate inflation, and adequate reserves backed by significant external support. However, the outlook for the rest of the year and 2025 has deteriorated since the fourth review, mainly due to prolonged Russian attacks on Ukraine’s energy infrastructure and uncertainty over the war.
“Overall, the outlook remains exceptionally uncertain,” the Fund emphasized.
Georgieva said that all quantitative performance criteria are expected to be met at the end of September as well.
