As of October 27, 2026, Ukrainian agricultural producers had harvested 3.92 million metric tons of sugar beets from an area of 79,500 hectares, which is 42.2% less than the gross harvest as of October 31 of last year. The average yield of sugar beets has also declined, according to data from the Ministry of Agrarian Policy and Food of Ukraine.
According to the ministry’s preliminary statistics, sugar beets have been harvested from 47% of the projected area.
The average yield is 493.6 centners per hectare, compared to 522.6 centners per hectare last year. Thus, the decline in yield reached 5.6%.
For comparison, as of October 31, 2025, Ukrainian farms had harvested 6.79 million metric tons of sugar beets from an area of 130,000 hectares.
This year, the area from which root crops have already been harvested is 38.8% less than last year’s figure.
Consequently, the significant lag in gross harvest volume is primarily due to the smaller area harvested, although the decline in yield also contributed to the result.
As of October 27, farmers still had more than half of the projected sugar beet acreage left to harvest.
Interim statistics do not yet allow for an assessment of the final 2026 harvest or its potential impact on sugar production volumes.
Sugar beets are the primary raw material for the Ukrainian sugar industry. The capacity utilization of processing plants, the cost of sugar production, and the ability to supply foreign markets all depend on sugar beet production volumes and the sugar content of the roots.
Unlike grain and oilseed crops, which can be stored for relatively long periods, sugar beets require timely delivery and processing after harvest.
Therefore, not only the gross harvest but also the rate at which it reaches sugar mills, the sugar content of the roots, and the length of the production season are important for the industry.
Overall, the harvest campaign in Ukraine is showing mixed results. As of October 27, the harvest of grains and legumes reached 41.7 million metric tons, and that of oilseeds reached 16.91 million metric tons.
At the same time, the harvest of sunflowers and rapeseed exceeds last year’s figures, while sugar beets and soybeans are currently showing a decline compared to last year’s data.
Poltava Medical Glass Plant JSC (PMGP, Poltava) saw its net profit decline by 15.8% in January–September 2026 compared to the same period in 2025, down to 66.05 million UAH.
According to the company’s interim report filed with the National Securities and Stock Market Commission’s disclosure system, its net sales revenue rose by 25.3% to 329.2 million UAH.
In January–September, the plant generated UAH 72.9 million in operating profit (down 14%), while gross profit increased slightly to UAH 107.5 million.
During this period, the plant manufactured 263 million ampoules and shipped 432.5 million units worth UAH 311 million.
The company generated 17.3 million UAH from the sale of oxygen and nitrogen.
As previously reported, in 2025, PZMS saw its net profit decline by 19% compared to 2024—to 105.564 million UAH—due to a 3.5% decrease in net revenue, which fell to 364.281 million UAH.
According to data from the National Securities and Stock Market Commission as of August 2026, 59.7% of the company’s authorized capital is owned by Supervisory Board Chairman Leonid Nekrasov, nearly 10% by Management Board Chairman Oleksandr Kudatsky, and another 25% is held by the pharmaceutical manufacturer PJSC “Ukrmedprom” (Kyiv), which falls under the jurisdiction of the Ministry of Health of Ukraine.
According to information on its website, the Poltava Medical Glass Plant is Ukraine’s leading manufacturer of ampoules for pharmaceuticals.
ampoule, PHARMACEUTICALS, Poltava Medical Glass Plant, PRODUCTION, PROFIT
Ukrainian steel mills produced 131,000 metric tons of steel in September 2026, which is 4.66 times less than in the same month of 2025, when production totaled 611,000 metric tons.
Compared to August 2026, steel production fell by 52.7%—from 277,000 metric tons, according to data from the World Steel Association (Worldsteel).
Amid the decline in production volumes, Ukraine dropped to 41st place in the global ranking of steel producers among 70 countries. In July, the country ranked 26th; in August, 33rd; while a year earlier, it was in 21st place.
Overall, global steel production in September 2026 fell by 0.2% compared to September 2025—to 142.4 million metric tons.
From January through September, Ukrainian steel mills produced 4.431 million metric tons of steel, which is 19.8% less than during the same period last year—5.523 million metric tons.
Global steel production over the nine-month period decreased by 0.7%, to 1.367 billion metric tons.
In 2025, Ukraine produced 7.41 million metric tons of steel, which is 2.2% less than in 2024. At the end of the year, the country ranked 21st in the global rankings.
Ferrexpo plc, a mining and ore processing company with its main assets in Ukraine, produced 2,041,789 metric tons of pellets in January–September of this year, which is 27% lower than in January–September of last year (2,808,594 metric tons), and in the third quarter, it reduced production of this product by 24% compared to the second quarter—to 656,650 thousand metric tons from 860,213 thousand metric tons.
According to the company’s press release on Wednesday, total production of marketable products (pellet and iron ore concentrate) for the first nine months of 2026 fell by 54% compared to the first nine months of 2025—to 2,336,135 metric tons. In particular, production of premium-grade Fe67% concentrate totaled 294,346 thousand metric tons, compared to 2,259,294 thousand metric tons (a decline of 87%). The company also produced 1,737,398 thousand metric tons of premium-grade pellets (a 36% decrease) and 304,391 thousand metric tons of DR pellets (compared to 81,787 thousand metric tons produced in the first nine months of 2025).
The press release notes that Ferrexpo remains committed to ensuring the safety and well-being of its personnel and continues to take extensive measures to protect employees, their families, and local communities.
At the end of August 2026, the Group recorded an increase in the Lost-Time Injury Frequency Rate (LTIFR)—calculated as a 12-month rolling average—to 0.28 (compared to 0.18 at the end of June); however, this rate remains below the five-year average (0.44). August 2026 marked the sixth consecutive year without a single fatality at the
Group’s production facilities; however, as reported in July 2026, an incident occurred involving a chartered vessel carrying Ferrexpo cargo: it was struck and damaged by Russian drones, resulting, unfortunately, in the death of a crew member.
A liquidity shortage, limited logistics capacity, and a temporary halt in production led to a decline in output during the reporting quarter: total production in the third quarter amounted to 780,000 metric tons, down from 963,000 metric tons in the second quarter.
The share of high-quality DR (direct reduction) pellets in the overall product mix remained stable throughout the quarter, and in quantitative terms, their production volume from the beginning of the year through the end of September increased by 272% compared to the same period last year.
On September 4, 2026, the Group announced that it had successfully raised approximately $100 million in capital; this decision received overwhelming support from shareholders on September 21, 2026. The funds raised strengthened the company’s balance sheet and enabled it to resume production.
The Group continues to actively manage its cash expenditures. These measures include reducing staff working hours, steadily cutting back on purchases of goods and services, and suspending all non-critical capital expenditures (CapEx), overhead costs, and expenditures on corporate social responsibility programs. The Group remains in the final stages of negotiations with a reputable trade finance provider regarding a secured credit line (as previously reported); however, the timing of the finalization of the definitive documents has been affected, in particular, by prolonged logistical disruptions on the Group’s Black Sea export route and, as a result, the Group’s ability to deliver products to the trade finance provider under the relevant purchase and sale agreement. Since the potential financing agreement has not yet been concluded, there is no certainty that it will be signed on the terms described or concluded at all.
Commenting on the Group’s performance, Acting Chairman of the Board of Directors Lucio Genovese noted: “In September, we were pleased to note that Ferrexpo’s shareholders approved, by an overwhelming majority, a $100 million capital raise. This process took place under challenging conditions. Over the summer months, the economic situation in Ukraine deteriorated, which, combined with various legal proceedings against the group, posed a serious test of investors’ willingness to invest in Ukraine. Despite this, we managed to successfully complete the capital raise, receiving subscriptions that exceeded the planned amount.”
According to him, raising funds was necessary because the decision by Ukrainian tax authorities to delay VAT refunds significantly weakened our cash position. Limited liquidity forced us to cut production volumes and implement even stricter cost-cutting measures. “We took extensive measures to address this situation, including making difficult decisions to place employees on mandatory leave or switch them to a reduced workweek. We recognize that this has been a source of immense stress for our employees amid already difficult circumstances, and that the resulting reductions in wages, procurement volumes, and tax payments have had a broader socioeconomic impact on the community,” the press release states.
It also notes that, despite our significant efforts, it eventually became clear that additional funds were needed to maintain production, as well as to preserve jobs and livelihoods.
“Raising funds has allowed us to resume production, albeit at significantly lower volumes compared to the period before the full-scale invasion. Due to significant restrictions on access to Ukrainian ports, opportunities to increase exports—and thus production capacity—are currently limited. Due to the temporary suspension of production in
August and the launch of a single pellet production line in September, total production for the quarter amounted to just under 800,000 metric tons,” the press release states.
As previously reported, Ferrexpo produced 3,221,461 metric tons of pellets in 2025, which is 47% lower than in the previous year (6,070,541 metric tons). At the same time, total production of marketable products (pellets and iron ore concentrate) for 2025 decreased by 9%—to 6,141,759 metric tons. Specifically, production of marketable concentrate amounted to 2,920,298 metric tons, compared to 709,803 metric tons, respectively. The company also produced 81,787 thousand metric tons of DR pellets (489,720 thousand metric tons in 2024) and 3,139,674 thousand metric tons of premium-grade pellets (a 44% decrease).
In 2024, Ferrexpo increased pellet production by 58% compared to 2023—to 6,070,541 metric tons from 3,845,325 metric tons. In 2023, the company produced 3.845 million metric tons of pellets, which is 36.5% less than in 2022.
Ferrexpo owns a 100% stake in Yeristivsky GZK LLC, a 99.9% stake in Bilanivsky GZK LLC, and 100% of the shares in Poltavsky GZK PJSC.
In 2026, Russia significantly intensified its attacks on Ukrnafta’s facilities. Production infrastructure and the network of gas stations are under attack.
The company is responding to this in a systematic manner and, despite everything, continues to grow. Bogdan Kukura, Chairman of the Board of JSC “Ukrnafta,” spoke about this on the sidelines of the Newfolk Conference.
“This year, we are allocating approximately 2.9 billion UAH to defense and security: we are relocating some facilities underground, constructing protective structures, building up equipment reserves, and strengthening our autonomy and alternative power supply schemes,” noted Bohdan Kukura. “We are continuing drilling operations. In 2026, we plan to drill and commission 15 new wells. Another area of focus is our cooperation with Ukrgazvydobuvannya: this year, we have jointly completed three new wells.”
At the same time, we are scaling up technologies that improve the reliability of our well fleet. Over the past eight months, 63 electric centrifugal pump units have been installed in wells, bringing the active fleet to 226 units. The interval between well maintenance for wells equipped with modern electric centrifugal pumps has increased from 214 days in 2024 to 410 days in 2026, and for new systems, it reaches 786 days.
The company is developing remote monitoring and control of wells. As of September, 420 wells were connected to such systems. This allows for real-time monitoring of operating parameters, faster response times, and prompt adjustments to operating modes.
The main objective is to maintain operational control, modernize production, and continue the company’s development.JSC “Ukrnafta” is Ukraine’s largest oil producer and operates the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to acquire the Shell network in Ukraine. In total, it operates approximately 650 gas stations.
The company is implementing a comprehensive program to restore operations and modernize the format of the gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of “Ukrnafta” is NJSC “Naftogaz of Ukraine,” with a stake of 50% plus one share.In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the portion of the company’s corporate rights that belonged to private owners; this portion is now managed by the Ministry of Defense.
Ukrainian steelmakers reduced pig iron production by 22.9% in January–September of this year compared to the same period last year, down to 4.463 million metric tons.
According to information released Friday by the “Ukrmetallurgprom” association, 113,000 metric tons of pig iron were produced in September, 257,100 metric tons in August, 432,200 metric tons in July, 670,600 metric tons in June, in May—634,400 metric tons, in April—554,000 metric tons, in March—690,200 metric tons, in February—561,900 metric tons, and in January—549,900 metric tons.
In 2025, Ukraine’s steel companies increased pig iron production by 11.2% compared to 2024, reaching 7.884 million metric tons.
In 2024, Ukraine increased pig iron production by 18.1% compared to 2023, reaching 7.090 million metric tons. In 2023, pig iron production fell by 6.1% to 6.003 million metric tons, and in 2022, it fell by 69.8% to 6.391 million metric tons.
In 2021, before the war, 21.165 million metric tons of pig iron were produced, or 103.6% of the 2020 level.
