Bulgaria’s Minister of Agriculture and Food Georgi Takhov asked the European Commission to take safeguard measures against honey imports from Ukraine at a meeting of the EU Agriculture and Fisheries Council, and his request was supported by a representative of Romania, the Bulgarian Ministry of Agriculture reported.
According to Takhov, imports of Ukrainian honey make it difficult to sell local products. The fact is that significant volumes of Ukrainian honey entering the European market at very low prices put a lot of pressure on Bulgarian honey prices.
“In addition to the many challenges facing the industry, over the past three years it has also faced competition from imports from Ukraine. The volume of honey imported from Ukraine to our country from January to October 2024 increased by more than 30% compared to the same period last year,” Takhov emphasized and added that the high level of imports from Ukraine puts Bulgarian producers in a difficult situation.
At a press conference following the meeting of EU agriculture ministers, Hungarian Agriculture Minister Istvan Nagy explained that Bulgaria and Romania demanded safeguard measures for imports of honey from Ukraine to the European Union, as the duty-free quota set in the autonomous trade liberalization has been exhausted, and “the duty creates problems in domestic markets burdened by imports.”
“The measure – the so-called ATM regulation – has been exhausted, but the amount of honey coming from Ukraine is still subject to duty, which also creates problems in domestic markets that are burdened by imports,” the Hungarian Ministry of Agriculture quoted him as saying.
Nagy emphasized that effective measures should be taken to prevent counterfeit honey from entering the EU market, for example, by labeling and separating natural and non-natural honey. He also believes that it is necessary to compensate for the “emerging competitive disadvantages” and to further support the beekeeping sector.
As reported, on August 20, the European Commission imposed tariff quotas on Ukrainian honey due to the excess of quota-free volumes of its supplies to the European market. Imports of honey from Ukraine from the beginning of 2024 to August exceeded the quota of 44.418 thousand tons. Additional imports are subject to most favored nation (MFN) duties. In particular, a new tariff quota will be introduced from January 1, 2025, until June 5, 2025, which corresponds to 5/12 of the threshold set for the emergency braking. For honey, the new quota will amount to 18,507 tons.
From June 2, 2024 to June 5, 2025, the European Commission introduced quotas for the supply of eggs and sugar to the European Union. For eggs, the new quota is set at 9,662 thousand tons, and for sugar – at 109,44 thousand tons.
On May 13, 2024, the Council of the European Union approved the extension of temporary trade liberalization measures for Ukraine for another year, until June 5, 2025. At the same time, it was envisaged to apply an emergency braking mechanism for particularly sensitive agricultural products, including sugar, eggs, poultry, oats, corn, honey, and cereals, in case imports of these products in 2024 exceed the average volumes recorded in the second half of 2021 and during 2022 and 2023. Similar emergency braking measures may be applied in 2025 if, in the period from January 1 to June 5, 2025, the volume of Ukrainian exports exceeds 5/12 of the quota set for 2024.
According to Art. 4(7) of the Regulation on autonomous trade measures applicable to Ukrainian products, Ukraine will be able to supply to the EU from June 6, 2024 to June 5, 2025 without paying any duty 57,101 thousand tons of poultry meat, 9,662 thousand tons of eggs, 109,439 thousand tons of sugar, 18,507 thousand tons of honey, 4.648 million tons of corn, 1,017 thousand tons of oats, 8,603 thousand tons of cereals.
Metinvest Group’s Zaporizhzhia-based steel and mining enterprises, Zaporizhstal, Zaporozhogneupor, Zaporozhkoks and Zaporizhzhia Foundry and Mechanical Plant (ZLMZ), increased their payments to budgets of all levels by 35% year-on-year in January-September this year, totaling more than UAH 2.1 billion in taxes and fees.
According to the group’s press release on Friday, the most significant payments in terms of volume are the unified social tax and the single personal income tax. A significant share of deductions is also accounted for by the payment of environmental and land taxes and military fees.
“Metinvest Group’s enterprises remain among the largest taxpayers in Zaporizhzhia. In the first nine months of this year, Metinvest’s steelmakers paid almost UAH 700 million to the local budget, a quarter more than last year. Taxes are the basis of the public sector and the foundation for sustainable development of the frontline region. That is why, despite all the difficulties of wartime, our enterprises remain a reliable pillar of Zaporizhzhia,” said Taras Shevchenko, acting CEO of Zaporizhstal.
At the same time, the company’s enterprises in the region systematically implement socially important projects to reintegrate war veterans and support their families, help vulnerable groups of the population, assist in eliminating the consequences of shelling and restore destroyed infrastructure.
As reported earlier, including associates and joint ventures, Metinvest Group increased its tax payments to the Ukrainian budget by 38% to over UAH 15 billion in the first nine months of 2024. Since the beginning of the full-scale invasion, Metinvest has allocated UAH 7.5 billion to help Ukraine and its citizens, including UAH 4 billion for the needs of the army as part of Rinat Akhmetov’s Steel Front military initiative. The Group remains a reliable support for the country in its fight against the enemy.
In 2023, Metinvest’s Zaporizhzhia enterprises paid more than UAH 2.1 billion to the budgets of all levels, including more than UAH 818 million to local budgets. At the same time, under martial law, they waived tax benefits worth more than UAH 350 million in favor of the state.
Taking into account its associated companies and joint ventures, Metinvest paid UAH 14.6 billion in taxes and fees to the budgets of all levels in Ukraine in 2023. Since the beginning of the full-scale war, the Group has allocated UAH 4.8 billion to help Ukraine and its citizens, including more than UAH 2.5 billion for the needs of the army.
In 2022, Metinvest’s Zaporizhzhia enterprises paid about UAH 3.4 billion to budgets of all levels, including almost UAH 820 million to local budgets last year.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are widely known and in demand in the domestic market and in many countries around the world. “Zaporizhstal is in the process of being integrated into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding Group (23.76%). Metinvest Holding LLC is the management company of Metinvest Group.
Ukraine’s largest home appliance and electronics retailer Comfy paid UAH 1.2 billion to the state budget in January-September 2024, the same amount as the company paid last year in total.
According to the company’s press service, revenue for this period increased by 30%, the dynamics of the company’s performance was influenced by the expansion of the network, updating store formats and product range, and improving customer experience.
This year, the retailer opened seven new stores, in particular in Oleksandria, Berdychiv, Khodosivka, Mohyliv-Podilskyi, restored stores damaged by Russian missiles (in the Dnipro shopping center Apollo and the shopping center “Sun Gallery” in Kryvyi Rih), and renovated the flagship store (1000+ sq. m.) in the capital’s Ocean Plaza shopping center. In addition, Comfy has reformed 80% of its existing stores to meet changing demand and assortment.
Thanks to the active development, Comfy created about 500 jobs across Ukraine.
By the end of the year, the retailer plans to open four more new stores and 100% upgrade its network according to the new standards.
The company’s sales growth was driven by the renewal and expansion of its assortment. The largest growth is traditionally observed in the categories of large appliances, small appliances and accessories. Prolonged power outages caused a boom in demand for alternative power sources, with an increase of over 1300%.
The retailer has also joined the National Cashback program, and since the start of the project, more than 100 manufacturers with whom the company cooperates have joined the program, offering more than 3.3 thousand units of goods.
In total, as of November 2024, the COMFY offline network has 109 stores.
The chain is owned by Comfy Trade LLC (Dnipro). According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the owner of Comfy Trade is Comfy Holdings Limited (Cyprus), with Svitlana Gutsul and Stanislav Ronis as the ultimate beneficiaries.
Omnichannel retailer Foxtrot paid UAH 700.5 million in taxes in January-September 2024, exceeding the total amount of taxes paid last year by almost a quarter, the company’s press service reports.
The release clarifies that the company’s turnover (20%) and website traffic (21%) also increased proportionally.
Given the seasonality (which lasted for a long time in the third quarter), the top sellers were charging stations (up almost 10 times compared to the same period last year), air conditioners (+141%), and fans (+135%).
GSM devices (smartphones, tablets, smartwatches) showed moderate growth during the Back-to-School period – by 32%, laptops – by 21%, headphones – by 22%, printers – by 37%.
During the third quarter, Foxtrot opened three new stores. The renovations were carried out in the chain’s stores in Bila Tserkva (Hermes shopping center), Sambir and Odesa (City Center shopping center). The key changes in the renovations included the replacement of commercial equipment, product placement, lighting, and interior design with elements of “embroidery”. In addition, when creating new and renovating existing stores, the company pays attention to creating inclusive retail spaces. In particular, Foxtrot has integrated DEAF ID (a unique electronic identification card for people who are deaf) into the FoxFan loyalty program for customers with hearing impairments.
“Foxtrot is one of Ukraine’s largest omnichannel retail chains in terms of the number of stores and sales of electronics and household appliances. The company operates 123 stores in 67 cities, including the frontline cities of Kherson, Kramatorsk and Sloviansk, and an online platform Foxtrot.ua and a mobile application of the same name.
The Foxtrot brand is developed by the Foxtrot group of companies. The co-founders are Valery Makovetsky and Gennady Vykhodtsev.
In January-September this year, Metinvest Mining and Metallurgical Group, including its associates and joint ventures, increased its payments to the budgets of all levels in Ukraine by 38% year-on-year to UAH 15.2 billion.
According to the company’s press release on Tuesday, Metinvest remains a pillar of the country’s economy amid the full-scale war.
Among the largest payments is the fee for subsoil use, which increased 2.8 times compared to the first and third quarters of 2023, to UAH 4.2 billion. The Group also increased its unified social tax payments by 16% to UAH 2.8 billion. In addition, Metinvest paid UAH 2.5 billion in personal income tax to the budget, up 11% compared to the first three quarters of 2023.
Land payments in January-September 2024 increased by 6% year-on-year to UAH 948 million, and environmental tax by 21% to UAH 543 million. At the same time, income tax payments decreased by 32% to UAH 1.9 billion.
“In a time of war, paying taxes is critical to supporting the Ukrainian economy. The main task of our company is to strengthen the country’s defense capabilities by all means available: to be a reliable employer, investor, manufacturer of steel products for the frontline and supplier of ammunition and equipment to the Armed Forces. Only by working together can we create a solid foundation for Ukraine’s victory and ensure a peaceful future for Ukrainians,” said Yuriy Ryzhenkov, CEO of Metinvest.
As reported earlier, Metinvest increased its tax payments to the state budget by one and a half times to UAH 10 billion in the first half of 2024. In 2023, the company paid UAH 14.6 billion to the state budget.
“Metinvest is a vertically integrated group of steel and mining companies. The group’s enterprises are mainly located in Donetsk, Luhansk, Zaporizhzhia and Dnipro regions.
The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
In January-September of this year, businessman Alexander Yaroslavsky’s DCH Group increased its payments to the budgets of all levels by 14.5%, or UAH 210 million, compared to the same period last year, to more than UAH 1.65 billion.
According to the PR department of DCH, the total amount of taxes paid by the group’s companies since the beginning of Russia’s full-scale invasion has reached almost UAH 5.5 billion.
It is specified that the main increase in tax payments compared to 9 months of 2023 was provided by JSC Bank Credit Dnipro – by UAH 95 million, Kharkiv Tractor Plant (HTZ) – by UAH 32 million, and ORANTA Insurance Company – by UAH 70 million.
It is also reported that in particular, in January-September 2024, DMZ reduced the production of rolled metal products by 56.9% compared to the same period last year, while the production of metallurgical coke decreased by 0.4%.
In the first 9 months of 2024, Sukha Balka Mine commissioned 8 new blocks with total reserves of 906 thousand tons of ore.
Since the beginning of Russia’s full-scale invasion of Ukraine, KHARTSYZSK PIPE has been in the war zone and the plant’s territory has been under constant shelling. Nevertheless, KHARTSYZSK PIPE continues to maintain production, electricity, gas and water supply to the plant and the city area, and continues to produce machinery for agriculture and the country’s critical infrastructure.
In June of this year, Bank Credit Dnipro, together with the Independent Association of Banks of Ukraine and 18 major commercial banks, signed a memorandum of bank lending for energy infrastructure rehabilitation projects, which is dictated by the country’s strategic need to ensure energy independence.
A significant challenge for manufacturing companies is the outflow of personnel, in particular due to the mobilization of personnel. Since the beginning of the war, 465 employees of Sukhoi Balka and 268 employees of DMZ have joined the Armed Forces of Ukraine. The companies’ operations are also affected by periodic power outages, when they have to reduce or stop production completely.
Today, DCH Group employs over 7.6 thousand people. 912 employees of the group serve in the Ukrainian Armed Forces, 55 of those who joined the ranks of the Armed Forces were killed.
DCH Investment Management is a financial and industrial group of companies that manages investments in ore mining and metallurgy, machine building, real estate, insurance, banking and hospitality.
