Business news from Ukraine

Ukraine plans to supply Kenya with grain as part of Grain from Ukraine humanitarian initiative

Ukraine plans to supply grain to Kenya within the Grain from Ukraine humanitarian initiative. The two countries also agreed to strengthen cooperation in agriculture.
According to the website of the Ministry of Agrarian Policy and Food of Ukraine, the relevant issues were discussed during the meeting of the Deputy Minister Markiyan Dmytrasevych with Franklin Mithika Linturi, the Minister of Agriculture and Livestock Development of Kenya.
According to the ministry, Dmytrosevych said that Ukraine understands the severity of the food crisis in Kenya, where an unprecedented drought in 2022 led to the fact that almost 3 million people in the country are in dire need of humanitarian food aid.
In turn, the representative of Kenya noted that every year it is more and more difficult for local farmers to farm because of climate change. Kenya is trying to take measures to ensure sustainability of agricultural production, in particular, the country is interested in sharing experience with Ukraine in the use of crop technology.
As previously reported, a delegation of the Ministry of Agrarian Policy visited Senegal, Nigeria and Ghana, where they signed a memorandum of cooperation with Senegal in the field of agriculture. In addition, all three countries have expressed a desire to develop cooperation with Ukraine and a willingness to expand their ports to intensify the unloading and storage of Ukrainian grain.
As a result of the visit, Ukraine will supply 25 thousand tons of grain to Nigeria in the coming months within the Grain from Ukraine humanitarian initiative.
By the end of November 2022, more than 30 countries and international organizations joined Grain from Ukraine, raising a total of over $180 million for the purchase of Ukrainian food.
Austria, Belgium, Bulgaria, Great Britain, Hungary, Greece, Estonia, the EU, Ireland, Spain, Italy, Canada, Qatar, Latvia, Lithuania, the Netherlands, Germany, Norway, Poland, Portugal, the Republic of Korea, Romania, Slovenia, Turkey, Finland, France, Croatia, the Czech Republic, Switzerland, Sweden, and the USA, as well as NATO and the UN, have reported on providing financial assistance.

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Ukraine and Senegal plan to sign documents to expand grain exports

Ukraine and Senegal will continue developing relations as regards supplies of Ukrainian agricultural products. Apart from the memorandum on mutual understanding in agriculture signed on January 9, the two countries have agreed on future high-level talks.
The results of the visit of the delegation of the Ministry of Agrarian Policy and Food of Ukraine to Senegal, Ghana and Nigeria were explained by the Head of the Ministry Mykola Solsky at the briefing in Kyiv on Monday.
“The meetings took place in Ghana, Senegal and Nigeria, these countries constantly “take” a lot of food and especially wheat. These are big markets in terms of population compared to the European market or many other countries: not with the same purchasing power, but it’s big and developing, so it needs to be monitored,” the minister said.
He also noted that each of the countries he visited is interested in developing cooperation with Ukraine and is ready to expand their ports to intensify the unloading and storage of Ukrainian grain.
Solskyy said that after the visit of the delegation of the Ministry of Agrarian Policy to Africa, the Ukrainian authorities will hold an additional meeting on the possibilities for the development of relations with the visited countries. According to him, joint projects are complicated by Russia’s traditional presence in the diplomatic field of Senegal, Ghana and Nigeria.
“At the unofficial level, representatives of all the countries we talked to understand what is happening in Ukraine (full-scale war unleashed by Russia – IFU). Unfortunately, at the official level they are not always ready to declare it. Therefore, such visits lead to the development of relations and will gradually improve them,” said the Minister.
As reported, a delegation of the Ministry of Agrarian Policy during a trip to Africa signed a memorandum of cooperation with Senegal in the field of agriculture. In addition, Ukraine in the coming months will supply 25 thousand tons of grain to Nigeria in the framework of the humanitarian initiative Grain from Ukraine.

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Ghana considers an opportunity to create hub for grain exports from Ukraine

Ghana intends to implement new logistics projects to increase and make more predictable the exports of agricultural products from Ukraine, a similar intention previously announced by Nigeria and Senegal.
According to the website of the Ministry of Agrarian Policy and Food of Ukraine on Friday, the deepening of cooperation in agriculture and trade relations was discussed by Ukrainian Minister of Agrarian Policy Nikolay Solsky and Ghanaian Minister of Food and Agriculture Owusa Afriy Akoto.
It is specified that the parties considered the issue of creation of a joint project – a logistics hub for food storage, which will allow to store high-quality grain, promote the predictability of sales and stabilization of world food prices.
The Ministry of Agrarian Policy recalled that the Republic of Ghana was the third country visited by a delegation of the Ministry of Agrarian Policy during its official visit to African countries, each of which expressed its desire to create a logistics hub for the export of Ukrainian grain.

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Analysts presented current prices of grains from Ukraine

Prices for Ukrainian wheat, corn rape and sunflower remained unchanged over the past week of January 5-12, while soybean prices are rising towards Poland and Italy, where premiums for it may reach EUR20/tonne.
As reported by brokerage company Spike Brokers (Kiev) in Telegram-channel on Thursday, last week, it concluded deals on DAP terms (seller bears the risk for the cargo before delivery to the destination) for the delivery of wheat to Ukrainian ports in January-February for 8 thousand UAH / ton. UAH/ton, corn to Ukrainian ports and the Slovakian border for $208/ton and $230/ton, soybeans (GMO) to Poland for $528/ton and sunflower to Romania for $540/ton.
According to the brokerage, corn prices in Ukraine remain unchanged from last week. The latest indications of buyers for last week: DAP Poland (border) $210-220/ton, DAP Hungary – $220-230/ton, DAP Romania (border) – EUR200-210/ton.
In turn, a stable supply of wheat in the world has not allowed prices to rise last week, the Ukrainian wheat is trading at stable levels of $205-210 for feed quality and $220-225 for food quality in the direction of DAP ports Odessa, Pivdenniy and Chornomorsk. Latest buyer indications: DAP Poland (border) – $220-240/ton, DAP Hungary (border) – EUR200-220/ton, DAP Ukraine (ports) – $205-225.
According to the trader, the purchasing prices for sunflower remain at the level of the previous week, although its supply began to increase in the direction of Bulgaria, Romania and Hungary. In addition, the premium for high oleic sunflower remained at $35/ton. The latest indications of sunflower seed buyers are DAP Bulgaria (center) – $540-555/ton, DAP Romania (center) – $530-540/ton, DAP Hungary (center) – $530-555/ton.
In addition, during the week prices for rapeseed from Ukraine did not change due to the oversaturation of the European market. Latest buyer indications: DAP Germany (east) – EUR530-545/ton, DAP Poland (west) – EUR540-560/ton, DAP Slovakia (west) – EUR540-550/ton.
“There is a recovery in demand from the Italian and Polish soybean markets. The premium for NOT GMO soybeans is up to EUR20/ton in the direction of Italy. Demand for GMO soybeans at Ukrainian ports remains at $460-470 DAP,” the brokerage specified.
Latest indications of soybean buyers for the week: DAP Ukraine – $460-470, NOT GMO DAP Italy (south) – EUR550-560, GMO DAP Italy (south) – EUR535-540.

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Nigeria offered Ukraine to create logistics hub for grain exports – ministry

Nigeria intends to implement new logistics projects to increase and make more predictable the exports of agricultural products from Ukraine, a similar intention announced earlier by Senegal.
The Minister of Agrarian Policy and Food of Ukraine Mykola Solskyi has reached the relevant agreements during the meeting with the Minister of Foreign Affairs of the Federal Republic of Nigeria Jeffrey Onyeama and the Minister of Agriculture and Rural Development Mohammad Mahmoud Abubakar, the website of the Ministry of Agrarian Policy reported on Wednesday evening.
It is specified that the meeting took place within the framework of the visit of the delegation of the Ukrainian Ministry to the countries of Africa.
The parties discussed opportunities for cooperation and expansion of trade relations between the countries, in particular the creation of a logistics hub for permanent supplies of agricultural raw materials and food products.
As reported, on January 9, Solskyy signed a memorandum of understanding in Senegal, which provides for the development of bilateral trade in agricultural products, cooperation in scientific research, investment, relations between public institutions and private organizations of Ukraine and Senegal.
It also refers to the possibility of storage of Ukrainian grain in the so-called grain hubs. At the same time, the head of the Ministry of Agrarian Policy said at the meeting that Ukraine is ready to export to African countries not only agricultural products, but also other goods, but it is necessary to focus on the development of logistics.

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Ships cannot leave Ukrainian ports for a second day because of bad weather

The Joint Coordination Center (JCC) reported that due to unfavorable weather conditions, vessels were unable to leave Ukrainian ports during Tuesday.

“On January 10, due to unfavorable weather conditions, not a single vessel left Ukrainian ports within the framework of the Black Sea grain initiative,” the report reads.

It is noted that “due to the strong wind and large waves, the team of joint inspection was not able to board the vessels to conduct inspections”.

On January 9, dry cargo vessels were also reportedly unable to leave Ukrainian ports due to bad weather.

Five dry-cargo carriers headed for Ukrainian ports, which passed through the maritime humanitarian corridor on Tuesday.

The SCC reported that “76 applications for participation in the initiative have been submitted.”

“As of January 10, the total tonnage of grain and other agricultural products exported from the three Ukrainian ports is 16,945,661 tons. A total of 1,264 dry cargo ships have been allowed to move so far: 631 to arrive at Ukrainian ports and 633 to leave them,” summarized the JCC.

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