Business news from Ukraine

Andrzej Duda: Poland will help Ukraine increase grain exports to foreign markets, but will keep its own closed

Polish President Andrzej Duda calls it a good decision to maintain the ban on the sale of Ukrainian grain on the Polish market, while announcing his intention to increase its transit through Poland to help Ukraine and countries that need this grain, the Presidential Office’s X (formerly Twitter) reported on Sunday.

“I believe it is the right decision that the Polish government has maintained the ban on the sale of Ukrainian grain on the Polish market. However, it is necessary to do everything possible to ensure that transit is as high as possible,” Duda said in a commentary to the Polish TV channel TVP1.

According to him, transit corridors have already been prepared in Poland, thanks to which Ukrainian grain can travel through the territory of Poland and be exported to where it is needed. “We are trying to help Ukraine and those countries that need this assistance,” the Polish President emphasized.

“Thanks to the work of our farmers, we are self-sufficient. We do not need grain from Ukraine. Their excellent harvests during the war almost did not reach the countries that really needed them,” Duda said.

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“Agroprosperis” exported 17 thousand tons of agricultural products through ports of Croatia

Agroprosperis agricultural group has supplied 17 thousand tons of agricultural products to Italy and Spain through the ports of Croatia since the beginning of 2023, the press service of the agricultural holding reported.

“In the first weeks of September of this year, Ukrainian and world media were abuzz with the news that Ukraine started exporting grain through the seaports of Croatia. “Agroprosperis is among the domestic exporters who were the first to use this route this year. It has become an important step in the expansion of Ukrainian agro-logistics against the background of the aggressor’s blockade of the grain corridor from the deep-water ports of the Black Sea,” the company’s website reported.

The agroholding noted that it was familiar with this export channel and had used it in previous years. During 2021-2022, the agroholding shipped 4,000 tons of GMO-free soybeans to Italy through Croatian ports for export. Since the beginning of the 2023-2024 marketing year, 6 thousand tons of corn were shipped to Italy and 11 thousand tons of wheat to Spain.

Currently, Agroprosperis is implementing a program of accumulation of wheat and soybeans for customers in Egypt and Europe.

According to the report, the structural subdivisions of the agroholding continue production of agricultural products and their export through alternative logistic routes. Agroprosperis noted the selfless work of its subdivisions in Sumy and Chernihiv regions, which grow, take care of crops and harvest crops under shelling.

In addition, the Agroprosperis Charitable Foundation is also active, providing direct assistance to 2,400 war victims totaling more than UAH 30 million.

Before the Russian military invasion, Agroprosperis had a land bank of 430 thousand hectares and total storage capacity of 800 thousand tons of crops. The holding grew and exported more than 2 million tons of grain and oilseeds per year.

“Agroprosperis operates through five divisions: Golden Sunrise (Agro), Bio Agro, Ray Agro, Latagro, New Agro Management, and provides financing to Ukrainian grain producers through Agroprosperis Bank.

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“TAS Agro” starts producing rapeseed oil and exports it to China

TAS Agro Group has made the first shipment of 1,500 tons of rapeseed oil to consumers in China, the agricultural holding’s press service reported on Facebook.

It is specified that TAS Agro has been processing rapeseed, sunflower and soybeans on a tolling basis at its partners’ plants for the second year in a row. As explained in the agricultural holding, in conditions of low profitability, increasing the added value of products through the development of processing is perhaps the only way to achieve a positive result.

“The realities of wartime force farmers to change, be flexible, and look for new strategic solutions. TAS Agro made the right decision to start processing rapeseed, as it is more profitable to sell oil than raw materials. Last season was the first experience of processing for our agricultural holding, and the financial results are positive,” said Anton Zhemerdeev, Deputy CEO for Commercial Affairs.

According to him, the agroholding has added new specialists to its team and is now focused on extending logistics to end consumers and opening new markets to generate additional margins.

TAS Group was founded in 1998. Its business interests include the financial sector (banking and insurance segments) and pharmacy, as well as industry, real estate, and venture capital projects.

Before the war, the TAS Agro group of companies cultivated 83 thousand hectares in Vinnytsia, Kyiv, Kirovohrad, Chernihiv, Mykolaiv, Sumy, Kherson, and Dnipro regions, was engaged in dairy farming (up to 5.5 thousand cattle), and owned six elevators with a one-time storage capacity of 250 thousand tons.

The founder of TAS is Sergey Tigipko.

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Ukraine reduced foreign exchange earnings from ferrous metals exports by 51.1%

In January-August this year, Ukraine’s metallurgical enterprises reduced their earnings from ferrous metal exports by 51.1% year-on-year to $1 billion 821.054 million.

According to statistics released by the State Customs Service (SCS), ferrous metals accounted for 7.44% of total export revenues during this period, while in the first eight months of 2022, they accounted for 12.86%.

In August, revenues from exports of ferrous metals amounted to $200.016 million, while in the previous month – $206.685 million.

At the same time, Ukraine increased imports of similar products by 53% to $855.284 million over the first eight months of this year. In August, the country imported products worth $136.466 million.

In addition, in January-August, Ukraine reduced exports of metal products by 11% compared to the eight months of the previous year, to $625.707 million. In August, they were exported for $65.114 million.

At the same time, imports of steel products increased by 24.8% to $515.548 million over the first eight months of the year. In August, Ukraine supplied $82.645 million worth of these products.

As reported earlier, in 2022, Ukraine’s steelmaking companies reduced revenues from ferrous metal exports by 67.5% compared to 2021, to $4 billion 533.088 million. During this period, ferrous metals accounted for 10.26% of total revenues from exports of goods, compared to 20.49% in 2021. At the same time, last year Ukraine reduced imports of similar products by 38.3% to $954.387 million.

In addition, in 2022, Ukraine reduced exports of metal products by 18.6% to $1 billion 52.512 million. Imports of metal products fell by 42.9% to $643.162 million over the year.

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Ukraine increased pig iron exports by 6.4% in January-August

In January-August this year, Ukraine increased exports of pig iron in physical terms by 6.4% year-on-year to 934.196 thousand tons.

According to statistics released by the State Customs Service (SCS), pig iron exports in monetary terms amounted to $356.293 million in the period under review (down 25.1%).

At the same time, exports were carried out mainly to Poland (63.07% of supplies in monetary terms), Spain (20.66%) and the Czech Republic (7.05%).

In the first eight months of 2023, Ukraine imported 65 tons of pig iron worth $97 thousand from Germany (32.99%) and Brazil (67.01%), while no imports of pig iron were made in June and July.

As reported, in 2022, Ukraine reduced pig iron exports in physical terms by 59% compared to the previous year to 1 million 325.275 thousand tons, and in monetary terms by 61.1% to $638.774 million.

In 2022, Ukraine imported 40 tons of pig iron worth $23 thousand, while in 2021 it imported 185 tons of pig iron worth $226 thousand.

Exports were made mainly to the United States (38.47% of supplies in monetary terms), Poland (32.91%), and Turkey (8.12%), while imports were made from Germany (100%).

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Ukraine increased copper imports by 85%, reduced exports by 22

In January-August this year, Ukrainian companies increased imports of copper and copper products by 85.1% year-on-year to $77.287 million.

According to customs statistics released by the State Customs Service of Ukraine, exports of copper and copper products decreased by 21.7% to $50.197 million over the period.

In August, copper was imported for $9.975 million and exported for $6.273 million.

In addition, in the first eight months of 2023, Ukraine reduced imports of nickel and products by 75.3% compared to the same period in 2022 to $11.038 million ($2.599 million in August), while imports of aluminum and aluminum products increased by 17.8% to $243.990 million ($38.614 million).

At the same time, it reduced imports of lead and lead products by 67.9% to $722 thousand ($9 thousand), imports of tin and tin products by 33.8% to $1.633 million ($208 thousand), but increased imports of zinc and zinc products by 10.1% to $28.775 million ($3.934 million).

Exports of aluminum and aluminum products in January-August this year decreased by 4.8% compared to the same period last year to $63.289 million ($8.201 million in August), lead and lead products increased by 13.6% to $9.866 million ($0.876 million), nickel and nickel products amounted to $201 thousand ($76 thousand), while in 8 months. 2022 it was $1.339 million.

Zinc was exported abroad for eight months by $88 thousand (in August – $2 thousand) against $1.302 million in January-August 2022. Exports of tin and products amounted to $53 thousand (in August – $1 thousand) against $396 thousand in 8 months of 2022.

As reported, in 2022, Ukrainian enterprises reduced imports of copper and copper products in value terms by 64.3% compared to the previous year – to $65.370 million, while their exports decreased by 56.3% to $90.245 million.

In addition, in 2022, Ukraine reduced imports of nickel and nickel products by 49.9% compared to 2021, to $59.754 million, and aluminum and aluminum products by 33.4%, to $340.398 million. At the same time, it reduced imports of lead and lead products by 66.6%, to $2.839 million.

Imports of tin and tin products fell by 33.5% to $3.312 million, and imports of zinc and zinc products decreased by 58.7% to $38.690 million.

In 2022, exports of aluminum and aluminum products decreased by 42.7% compared to 2021, to $96.972 million, lead and lead products – by 68.7%, to $11.970 million, and nickel and nickel products – by 73.9%, to $1.268 million.

Zinc exports in 2022 amounted to $1.331 million, while in 2021 they amounted to $550 thousand. Exports of tin and products in 2022 amounted to $424 thousand, compared to $346 thousand in the previous year.

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