Business news from Ukraine

Business news from Ukraine

AMCU fined Khladoprom UAH 1.37 mln for untruthful information on packaging

The Kyiv Economic Court found Khladoprom Ice Cream Factory LLC guilty of distribution of untruthful information about the composition of its product and fined it UAH 1.37 million. The court rejected its claim to cancel the decision of the Antimonopoly Committee (AMCU) that the company violated the legislative requirements for product labeling.
As reported on AMCU’s website on Monday, while considering case #470-r dated December 30, 2022, the AMCU discovered that FM Khladoprom LLC, which produces more than 27 kinds of ice cream, in particular under the names Khreshchatyk, Kashtan, Khladik, Artek, Voloshkovoye Pole and others, had included information on the content of cow’s milk in its ice cream packaging.
The regulator found that in September and November 2020, the company did not purchase cow’s milk and therefore did not use it in making the ice cream “plombier,” but replaced it with skim milk powder.
“Drinking cow’s milk and powdered milk are not identical components, because these raw materials are produced under different technical conditions. Accordingly, the information distributed by the manufacturer on the composition of his product is false, whereas, according to the legislation, the labeling of all products should indicate only the ingredients that were actually used in their manufacture”, reminded the AMCU.
He pointed out that the placement of information on the packaging of ice cream that it contained drinking cow’s milk, which was not used by the company during the production in September and November 2020, was misleading for consumers.
Khladoprom Ice Cream Factory LLC tried to appeal against the regulator’s decision in court, but on 22 June 2023 the Kyiv Court of Justice dismissed the claim and upheld the AMCU’s decision, finding the company in breach of unfair competition legislation and imposing a UAH 1.37 million fine.

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Lithuanian President arrives in Kiev

President of the Republic of Lithuania Gitanas Nausseda has arrived in Kiev on Wednesday, June 28, with an unannounced visit, according to the press service of the head of state.
Nausseda will meet with Ukrainian President Vladimir Zelenski and take part in an event marking the 27th anniversary of the Ukrainian Constitution.
The Lithuanian head of state will discuss with the Ukrainian president the agenda of the NATO summit to be held in Vilnius in July, as well as the negotiation of Ukraine’s membership in the European Union, the assistance of Lithuania and the European Union to Ukraine.
“The president arrived in Kiev from The Hague, where yesterday at a meeting of heads of seven states discussed further support for Ukraine. From Kiev, the Lithuanian president will travel to Brussels, where a meeting of the Council of European Leaders will begin on Thursday,” the report said.

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Nearly bln Muslims around world celebrate main Islamic holiday, Eid al-Adha

Nearly a billion Muslims in the world are celebrating Wednesday the main Islamic holiday, the Day of Sacrifice, also known as Eid al-Fitr and Eid al-Adha.
Any Muslim who can afford it must sacrifice an animal, and one person can limit himself to a sheep, but for a group of up to ten adherents of Islam one cattle is enough. The animal should be rather young and without any physical defects. Two thirds of meat of a sacrifice should be given to poor people, and the rest goes to a festive meal of a family.
The sacrifice is performed by Muslims in memory of the Prophet Ibrahim’s readiness to sacrifice his son Ishmael to the Most High to prove his loyalty to God. However, the Almighty, having tested Ibrahim, stopped his hand over his son and sent him a white lamb to be sacrificed.
During Eid al-Adha, it is customary to wear new or at least better clothes, to go visiting, to give gifts, and to visit the graves of loved ones.
In Saudi Arabia, the Festival of Sacrifice is the culmination of the hajj, the annual pilgrimage of Muslims to the shrines of Mecca and Medina. About 2.5 million worshippers gathered there this year, 2.5 times more than last year, when the world was still reeling from the pandemic and related health and visa restrictions.

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Structure of foreign exchange reserves as of 30.04.2023

Structure of foreign exchange reserves as of 30.04.2023

Source: Open4Business.com.ua and experts.news

Retail trade turnover in Ukraine in January-March 2023 decreased by 9.1%

Retail trade turnover in Ukraine in January-March 2023 compared to the same period in 2022 decreased by 9.1% to 390.1 billion UAH, the State Statistics Service (Derzhstat) said on Tuesday.

According to the State Statistics Service, at the same time in March this year there was a 35.5% increase in retail turnover compared to March last year, while in February the decline was 22.6%.

State Statistics Committee specifies that retail trade turnover (legal entities) in the first quarter of 2023 compared to the first quarter of 2022 decreased by 11.2%, amounting to 262.7 billion UAH.

This figure increased by 35.4% in March 2023 compared to March 2022, while in February the decline was 25.2%.

Gosstat reminds that the data are given without taking into account the temporarily occupied territories of Crimea, Sevastopol, part of the Donetsk and Lugansk regions.

As reported, in 2022 the retail turnover in Ukraine fell by 21.4%.

More than 150 Polish farmers blocked the road demanding a ban on imports of Ukrainian raspberries

More than 150 farmers blocked a road in the village of Elżbieta in Poland’s Lublin Voivodeship demanding a ban on imports of Ukrainian raspberries due to lower purchase prices at Polish fruit and vegetable freezing companies, SadyOgrody reports.

Polish farmers consider the prices offered by processing companies to be too low, and intensive imports of raspberries from Ukraine further worsen the situation on the Polish domestic market.

According to the Polish newspaper, the first strike by berry growers took place last Monday. During a larger protest on June 27, about 150 raspberry growers blocked traffic at the Elżbieta roundabout in Lublin Oblast. The organizers hope that the number of participants will increase with each subsequent protest.

“In the coming days, the producers are planning further actions against too low raspberry prices. Tomorrow there will be another protest in Annopol. The producers intend to block the entrances to processing plants to block the delivery of Ukrainian raspberries there,” the publication notes.

As reported, on June 16, the Association of Gardeners of the Republic of Poland sent a letter to the Minister of Agriculture of Poland Robert Telusz with a request to take urgent measures to stop the import of strawberries from Ukraine, limit it and then completely stop it.

The business association insisted on the introduction of a system of official quality control of each batch of fruits and berries entering the country, especially for plant protection products (PPPs) residues, and also proposed to suspend further trade in the product until the results of the examination are received.

Source: https://www.sadyogrody.pl/prawo_i_dotacje/104/protest_producentow_malin_na_lubelszczyznie_mamy_zdjecia,36004.html