Business news from Ukraine

Business news from Ukraine

“Novo Nordisk” has provided Ukraine with more than 900 mln hryvnias worth of humanitarian aid

Since the beginning of the full-scale invasion, pharma company Novo Nordisk has provided Ukraine with humanitarian and charitable assistance in various ways for more than 900 million UAH.

According to its press release, in addition, throughout 2019-2023, more than 100 Ukrainian hospitals have received equipment for continuous blood glucose measurement totaling UAH 8 million from the company.

“In the first months of the war, to avoid shortages of insulin and other vital drugs, we transferred to the Ministry of Health of Ukraine a six-month supply of insulins of different types and more than a third of the annual need for blood clotting factors. Together we were able to provide insulins to more than 50 thousand patients in different parts of Ukraine”, – the press release quotes the words of the General Director of “Novo Nordisk Ukraine” Vladislav Moroz.

It is specified that since the beginning of the full-scale war humanitarian aid from Novo Nordisk with insulins and other medicines has been delivered to hot spots in the temporarily occupied territories in cooperation with volunteers and charitable organizations, in particular, BF Zhiznelyub, BF Patients of Ukraine, BF Save Mariupol.

In addition, Novo Nordisk joined an international initiative to rebuild Mykolayiv and Mykolayiv region affected by the war.

“Novo Nordisk has allocated $5 million, which will be used to restore critical infrastructure in Nikolaev, in particular water and power plants, and humanitarian aid to the residents of the city and region. A separate budget is provided for the restoration of medical infrastructure and additional supplies of medical equipment needed by hospitals in Mykolaiv and the region,” Moroz said.

Novo Nordisk is a leading global medical company founded in 1923 and headquartered in Denmark. The company specializes in overcoming diabetes and other serious chronic diseases such as obesity, rare blood clotting and endocrine disorders. The company employs about 55,000 people in 80 countries and sells its products in about 170 countries.

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“Astarta” exported 833 thousand tons of products to 40 countries of world

Agro-industrial holding Astarta, the largest sugar producer in the country, exported 833 thousand tons of products to 40 countries during the 2022-2023 marketing year (MY, September-August) under conditions of limited logistical opportunities.

“Despite the constant blocking of Russian maritime trade routes and other export restrictions, we managed to deliver to foreign markets and 563 thousand tons of grains and oilseeds, including 177 thousand tons of wheat and 386 thousand tons of corn. Italy, Spain, Indonesia and Kenya became the main importers of wheat, and China, Portugal and Spain – corn,” – reported the press service of the holding in Facebook.

According to the company’s data, the main consumers of soybean products during this period were EU countries, where Astarta supplied 48 thousand tons of soybean oil and 133 thousand tons of soybean meal, taking the second and first place among exporters of these products to the EU, respectively.

In addition, the holding also supplied 52 thousand tons of sugar to European markets, which also allowed Astarta to maintain its leading position among Ukrainian exporters.

“Due to our properly built reputation, transparency and consistency of business, we were ready for integration into European markets with both our main products and niche products. Incidentally, the niche ones, including organic flax and mustard, were one of the discoveries last season. It was their presence in our product portfolio that allowed us to work with both major and regional players in the European Union,” said Astarta’s commercial director Vyacheslav Chuk, whose words are quoted in the report.

He added that Astarta plans to deepen trade relations with key European partners and develop a product line under its own brand.

“Astarta” is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It includes six sugar factories, agricultural farms with a land bank of 220 thousand hectares and dairy farms with 22 thousand cattle, an oil extraction plant in Globino (Poltava region), seven elevators and a biogas complex.

In the first half of 2023, Astarta’s revenue from sales of key products increased by 64.8% year-on-year to UAH 10.72 bln. The main contribution was made by sales of sugar – UAH 3.27 bln, which increased by 75.5%, corn – UAH 2.66 bln (+53.2%) and soybean meal – UAH 1.96 bln (+84.5%).

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Ukraine’s Ministry of Agrarian Policy has improved crop forecast for 2023

The Ministry of Agrarian Policy of Ukraine due to favorable weather conditions has improved the forecast of harvest in 2023 by about 4%, Minister Mykola Solskiy said on the air of the national telethon.

“We have adjusted our forecast of this year’s harvest compared to last year’s … by 10% down. But the weather is really this year, according to the state as of today, ufu-tufu-tufu, so that it would continue to be so, it is good enough, let’s say, cautiously. And we have already adjusted this forecast for the better: we think that the drop will be by +/- 6 percent compared to last year. This is preliminary, because there are still a few months ahead,” said the Minister.

He specified that the initial forecast was based on the change in the structure of sown areas caused by logistical problems in favor of more expensive crops, but with lower yields (for example, soybeans or sunflowers instead of corn), as well as less investment in land.

Solsky specified that canola, barley and wheat have been harvested for several weeks now.

“Rapeseed (will be) like last year, maybe even a little more. Barley – less, because less was planted, by 15-20 percent. And there will be less wheat because less was planted. We hope to compensate with spring crops in the fall, but let’s not guess,” – said the Minister.

As reported, First Deputy Minister of Agrarian Policy and Food Taras Vysotskyy at the end of June predicted grain harvest this year at the level of about 46 million tons compared to 53.1 million tons in the previous season.

At the same time, Ukrhydrometeocenter in early July gave a more optimistic estimate – about 49.6 million tons.

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Taiwanese government to allocate $2.5m to Kiev for construction of bridge in Kiev

The Taiwanese government will allocate $2.5 million to Kiev for the construction of a bridge to Obolonsky Island in the capital, according to the website of the Ministry of Foreign Affairs of Taiwan.

According to the press release, earlier $1 million for the construction of the bridge was sent to Kiev by the Metropolis of Greater Paris. Taiwan, along with other countries, supports the reconstruction of Ukraine and emphasizes the importance of solidarity and cooperation of the democratic community during the Russian-Ukrainian war, noted in the message.

As reported with reference to Obolonska Regional State Administration, Kiev received about UAH 20 million from the Metropolis of Greater Paris to complete the construction of a pedestrian bridge on Obolonsky Island.

The pedestrian bridge on Obolonsky Island is being built since 2020 at the expense of patrons. According to the project, the bridge will rest on four supports, two of which are located in the strait. The width of the pedestrian facility is 4 meters, length – 164 meters.

By the beginning of 2023, three bridge supports were installed and materials were purchased. With the funds provided by the Metropolis of Greater Paris, it was planned to complete the installation of the fourth bridge abutment, purchase and install the auxiliary and partially purlin structures, and purchase steel structures.

Source: https://en.mofa.gov.tw/News_Content.aspx?n=1328&sms=273&s=115105

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Export changes in % to previous period in 2022-2023

Export changes in % to previous period in 2022-2023

Source: Open4Business.com.ua and experts.news

Exports of major commodities in 2022-2023, million tonnes

Exports of major commodities in 2022-2023, million tonnes

Source: Open4Business.com.ua and experts.news