In 2023, Astarta Agricultural Holding produced 39 thousand tons of sugar beet, up 20% year-on-year, thanks to a record yield of 58 tons/ha compared to 56 tons/ha in 2022, the company said in its annual report on Wednesday evening.
According to the agricultural holding, the record high sugar beet harvest extended the processing period until the end of January 2024. In total, the sugar production campaign in 2023 lasted 130 days, compared to 111 days a year earlier.
“In the 2023-2024 marketing year, Astarta increased sugar production by 34% year-on-year to 377 thousand tons. At the same time, the volume of sugar beet processing in 2023 increased by 37% compared to the same period last year and reached 2.7 million tons. The market share remained unchanged at 21% in 2023, the document says.
The agroholding has engaged more than 100 independent sugar beet producers in eight regions of Ukraine to supply its sugar factories with raw materials. In 2023, they increased the supply of raw materials to 26% of the total volume of this crop processed by the company (18% a year earlier) – up to 707 thousand tons of the crop.
Astarta’s share in Ukraine’s total sugar exports amounted to 12%, or about 50 thousand tons in 2023. Italy and Romania became the key export destinations for the agricultural holding, accounting for 29% and 25% of the company’s exports, respectively. Hungary, Spain and Bulgaria were also among the top five buyers of Astarta’s sugar.
99% of Astarta’s sugar was exported by land, mainly by road (67%) and rail.
Half of the sugar produced was supplied to processing companies, primarily in the food industry, including confectionery, bakery and beverage production.
Astarta also produces by-products such as pressed pulp, dry granulated pulp and molasses from its sugar beet processing and sells them domestically as ingredients for animal feed production for use in its own livestock farming or for biogas production.
The volumes of by-products produced depend on the amount of sugar beet processed, so in 2023 their production volumes increased significantly, the agricultural holding explained. The production of molasses increased by 1.5 times to 98 thousand tons, and pressed pulp – to 1.7 million tons against 1.5 million tons in 2022. Production of granulated beet pulp amounted to 28 thousand tons.
In 2023, Astarta’s bioenergy complex used 145 thousand tons, or 9% of the produced pressed pulp, to produce biogas for its facilities. In addition, 223 tons (approximately 1%) of the produced granulated sugar beet pulp was used as alternative energy at one of the agricultural holding’s sugar plants.
Sugar sales volumes increased by 26% year-on-year to 284 thousand tons in 2023, while the average selling price increased by 3% to EUR 665/ton. Realized prices increased by 18% year-on-year to 26 thousand UAH/ton (excluding VAT).
The Swiss government will allocate 5 billion francs as part of its long-term support for Ukraine. The program will last for 12 years, until 2036, the government’s press service reports.
“As a first step, about 1.5 billion Swiss francs are to be allocated from the international cooperation budget by 2028. This amount clearly demonstrates Switzerland’s solidarity with the people affected by the war in Ukraine and will increase stability on the European continent,” the statement said.
It is noted that in the period 2029-2036, the Federal Council also intends to explore other sources (in addition to international cooperation) from which the remaining 3.5 billion Swiss francs can be obtained.
The Federal Council has also commissioned the development of a joint country program for Ukraine, including appropriate oversight mechanisms. This program should ensure targeted and effective support and be based on the seven Lugano principles: partnership, reform focus, transparency, accountability and rule of law, democratic participation, multi-stakeholder engagement, gender equality and inclusiveness, and sustainability.
The Federal Council also instructed to determine how the country program for Ukraine will be implemented in the strategic plan. In particular, a proposal to establish an interagency coordination group headed by a delegate from Ukraine should be prepared and submitted to the Federation Council for approval.
Impact of electricity deficit on real GDP vs no deficit, % (forecast up to 2024)
Source: Open4Business.com.ua and experts.news
Energy imports, forecast, bln dollars
Source: Open4Business.com.ua and experts.news
PJSC SIC Borshchahivskiy Chemical Pharmaceutical Plant (BCPP, Kyiv) may obtain a license to produce baby food and dietary food products.
As the company reported in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the issue of obtaining such licenses at the initiative of shareholder Aletber Limited (Cyprus) is on the agenda of the shareholders’ meeting to be held on April 30.
By the end of 2023, BCPP increased production by 17.6% compared to 2022 to almost UAH 1.866 billion, but in physical terms it decreased by 3.3% to 34.8 million packs. At the same time, 40.3 million packs were sold last year, which is 7.8% less than in 2022, while total sales increased by 16.5% to UAH 1.806 billion.
In 2023, BCPP’s net profit increased by 3.38% compared to 2022 to UAH 262.863 million.
As of the first quarter of 2023, 31.8% of BCPP shares were owned by the pharmaceutical company Pharmaceutical Firm “Darnitsa” (Kyiv).
According to the Opendatabot system, the ultimate beneficiaries of BCPP are also the beneficiary of the pharmaceutical company “Darnitsa” Hlib Zagoriy, Yevhen Sova and Tetiana Artemenko.
The production of rapeseed in Ukraine in 2024 may reach 4.3 mln tonnes, up 4% from the previous estimate, but 7% down from the 2023 figures, according to the forecast of APK-Inform information and analytical agency.
“The forecast was adjusted due to the increase of the planted area under this crop to 1.49 mln ha (+4% to the previous estimate; -4% to 2023),” the analysts explained.
They also increased the export potential of rapeseed in 2024/2025 MY to 3.6 mln tonnes, up 2% from the previous estimate, but 2% down from the previous season-2023/2024.
Experts noted that the condition of winter rapeseed after wintering was mostly assessed as good and satisfactory. However, the lack of moisture observed in the soil due to the rather dry March and the first half of April raised concerns about the yield potential. The situation is expected to be affected by the cyclone that entered the country this week.
“The popularity of rapeseed in Ukraine has increased significantly in recent years, driven by the consistently high demand for the oilseed from European importers. Therefore, rapeseed in Ukraine is now one of the most highly liquid crops and it is a fairly quick way for an agricultural producer to get money,” the agency stated.
In addition, in the last few years, the price of rapeseed on the domestic market has been quite attractive for farmers and among the key oilseeds is second only to soybean prices, but it is quite sensitive to world production and to the price dynamics on the European market of this oilseed.
“In the new season, the prospects for Ukrainian rapeseed are also quite good: the production of this oilseed in the EU is expected to decrease (from -2% according to the European Commission to -10% according to Strategie Grains), which is already creating a rush in the market. However, according to the recent estimates of FAS USDA, in 2024 the production of Australian canola may increase by 14%, which together with Canadian oilseed is the direct competitor of Ukrainian rapeseed on the European market,” – forecasts APK-Inform.
