Business news from Ukraine

Business news from Ukraine

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

Corteva Agriscience has increased corn seed exports to EU 16-fold

Corteva Agriscience, an international agricultural research company, increased its exports of Pioneer brand corn seed to the EU 16-fold in 2023 through established channels in Romania and Hungary, according to its press release.
According to it, the company was able to achieve a 15 percent increase in yields of Pioneer’s advanced seed hybrids last year through the introduction of precision farming, irrigation and other advanced approaches.
“For ten years we have been developing seed production in Ukraine, because for Corteva Agriscience our country is one of the major players in the global agricultural market, which has a significant impact on global food security,” – quoted the press service of the regional head of seed production Corteva Agriscience Andrey Andriushko.
He said that amid the war the company continues to invest in the production seed complex and support the communities of the region. For example, last year Corteva Agriscience signed a declaration with the Ministry of Agrarian Policy and Food of Ukraine on deepening and further developing cooperation for food security in Ukraine and the world, which resulted in increasing the production capacity of the seed complex in Stasi village, Poltava region, officially opened in June 2013 and investments of over $56 million. Its annual capacity has reached about 500 thousand seed units of corn and 250 thousand seed units.
According to the company, Corteva is one of the largest taxpayers in the region. The total number of employees, including seasonal workers, reaches nearly 400.
According to the press release, Corteva has invested about UAH 4.6 million in the development of Stasi village since 2013 (to improve infrastructure, medicine, education and social life of the community, in particular, it financed the reconstruction of a bomb shelter for 800 people.
Corteva Agriscience is a global agricultural company. It offers agricultural producers comprehensive solutions to maximize crop yields and profitability. It has more than 150 research facilities and more than 65 active substances in its portfolio.
Its representative office in Ukraine includes a central office in Kiev, a research center in Lyubartsy village (Kiev region) and a seed production complex opened in 2013 in Stasi village (Poltava region). Investments in the plant over five years amounted to more than $56 mln.
In April 2022, the company decided to leave the Russian market due to the full-scale war unleashed by Russia against Ukraine.

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Ukraine in 5 months reduced export of iron ore raw materials by 55%

Mining companies in Ukraine in January-May this year, the export of iron ore raw materials (iron ore) in physical terms reduced by 55% compared to the same period last year – up to 6 million 846.487 thousand tons.
According to the statistics, released by the State Customs Service (SCS), over the period the currency proceeds from the export of iron ore amounted to $752.472 million.
Exports of iron ore products were mainly to Slovakia (29.08% in monetary terms), Czech Republic (25.06%) and Poland (21.42%).
During the first five months of this year, Ukraine imported iron ore products for $42 thousand in total volume of 68 tons. During this period, imports were carried out from Norway (57.14%), Italy (40.48%) and Sweden (2.38%).
As reported, in 2022, Ukraine reduced the export of iron ore products in kind by 45.9% compared to 2021 – up to 23 million 984.623 tons, foreign exchange earnings decreased by 57.8% to $2 billion 912.974 million.
Exports of iron ore products was carried out mainly to Slovakia (19.23% in monetary terms), Czech Republic (17.32%) and Poland (16.49%).
Last year Ukraine imported iron ore to the amount of $65 thousand in total 101 tons, while in 2021 – $184 thousand in the amount of 1.202 tons.
Imports were carried out from Norway (36.92%), the Netherlands (27.69%) and the UK (16.92%).

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Export of important goods from Ukraine in Jan-Mar 2023 in relation to 2022

Export of important goods from Ukraine in Jan-Mar 2023 in relation to 2022

Source: Open4Business.com.ua and experts.news

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Ukraine has cut currency revenues from ferrous metals exports by more than half

Metallurgical enterprises of Ukraine in January-May of this year reduced revenues from exports of ferrous metals by 60.7% compared to the same period last year – to $ 1 billion 136.465 million.
According to the statistics, promulgated by the State Customs Service (SCC), during this period, ferrous metals accounted for 6.91% of total revenues from the export of goods against 14.8% in January-May 2022.
In May, the proceeds from the export of ferrous metals amounted to $313.168 million, while in the previous month – $239.718 million.
At the same time, Ukraine increased imports of similar products for five months of this year by 46.3% – to $485.619 million. In May, Ukraine imported products for $124.560 million.
In addition, in January-May, Ukraine has practically kept the export of metal products at the level of five months of the previous year – $424.450 million. In May, they exported by $90.854 million.
At the same time, imports of metal products in the first five months of the year rose by 21.4% – to $285.893 million. In May, Ukraine exported these goods for $64.168 million.
As reported, metallurgical enterprises of Ukraine in January-April 2023 decreased export revenues of ferrous metals in 3.2 times compared to the same period last year – up to $ 823.406 million. At the same time, the country increased imports of similar products by 27.4% – to $ 360.802 million. In addition, Ukraine reduced exports of metal products by 0.6% to $334.065 million in January-April, while imports of metal products in the first four months of the year rose by 11.1% – to $221.719 million.
Metal companies in Ukraine in 2022, revenues from exports of ferrous metals decreased by 67.5% compared to 2021 – up to $4 billion 533.088 million – the ferrous metals accounted for 10.26% of total revenues from the export of goods during this period against 20.49% in 2021. At the same time, Ukraine has reduced imports of similar products last year 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 for the year fell by 42.9% – to $ 643.162 million.

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Aluminum exports from Ukraine in January-May 2023 increased by 0.7%

According to customs statistics released by the State Customs Service of Ukraine, the export of aluminum and aluminum products in January-May this year increased by 0.7% compared to a year earlier – to $39.735 million (in May – $8.306 million), lead and aluminum products decreased by 17.2% – to $6.684 million ($1.214 million).
Exports of aluminum and aluminum products for 2022 decreased 42.7% from 2021 to $96.972 million, lead and lead products decreased 68.7% to $11.970 million, and nickel and nickel products decreased 73.9% to $1.268 million.

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