Business news from Ukraine

Business news from Ukraine

Turkey says corridor for export of agricultural products from Ukraine works again

The Joint Coordination Center (JCC) has resumed inspections of vessels coming from Ukraine with agricultural products within the framework of the Black Sea Grain Initiative, Sabah reported on Tuesday.
The relevant information earlier became known to the Turkish media from the Ministry of Defense of Turkey.
As the newspaper recalls, the day before, the UN said that on Sunday and Monday there were no inspections of ships.
Meanwhile, the Turkish Defense Ministry confirmed that Turkey, Ukraine, Russia and the UN will hold talks on the “grain initiative” on May 10-11.
Earlier, the Ukrainian Defense Ministry said that on May 8, Russia again blocked the work of the Grain Initiative, refusing to register vessels for entry and conduct inspections. According to the ministry, 90 vessels are awaiting inspection in Turkish territorial waters, of which 62 are vessels going in for loading. Inspections of both incoming and outgoing ships are suspended. Export of Ukrainian agro-products via the “grain corridor” did not even reach 3 million tons in April.
“Black Sea Grain Initiative” was concluded in Istanbul on July 22, 2022 with the participation of the UN, Ukraine, Turkey and Russia to create a corridor for the export of grain from three Ukrainian ports: “Chernomorsk”, “Odessa” and “Pivdenny”. The initiative was concluded for 120 days and was extended twice, most recently on March 18. However, while Ukraine claims it was extended for 120 days, Russia claims it was only for 60.

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Turkey imposes 130% duty on imports of wheat, barley and corn

Turkey will impose an import duty on wheat, barley and corn starting from 1 May this year. The Russian Union of Grain Exporters does not rule out its cancellation in the new agricultural year, which begins July 1, 2023.
As the official gazette of Turkey T.C. Resmi Gazete reported, from May 1 the duty rate will be 130% instead of 0%. This measure is aimed to protect domestic producers on the eve of the new season.
Earlier, the Ukrainian Agricultural Policy Ministry said that this measure by Turkey will not affect sales of Ukrainian agricultural products as Ukrainian grain is mainly used for processing and subsequent sale to third countries, in which case the duty is not imposed on it.
At the same time, the ministry explained that Turkey has two customs regimes for imports. The first applies to products that are used for domestic consumption, and for such products the Turkish government previously announced a temporary zero rate of duty. After the expiration of the preferential regime returns the rate of 130%. Grain from Ukraine under the first regime, for which the duty is returned, goes to Turkey about 5% of all exports to this country, the Ministry of Agrarian Policy specified.
The second regime exists for products that go on sale to third countries before or after processing. Duty is not paid for this regime.
According to the State Customs Service, during the first quarter of this year, Turkey was the largest exporter of Ukrainian wheat, which was supplied for $ 168.8 million, or 17.7% of its total exports, including $ 70.9 million, or 20.5% in March.
Barley from Ukraine to Turkey during the first quarter of this year was imported at $ 52.7 million or 42.1% of total exports of this crop, including $ 17.3 million or 38.8% in March.

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Erdogan announced final number of victims of earthquakes in southeastern Turkey

The number of victims of earthquakes that occurred in early February in the southeast of Turkey, exceeded the mark of 46 thousand people in this country, said Turkish President Recep Tayyip Erdogan.
“The number of victims of earthquakes in southeastern Turkey has reached 46,104,” he was quoted as saying by Anadolu Agency. Last week Ankara reported about 46 thousand dead, but at that time the issue was about data from two countries: Turkey and Syria.
According to Erdogan, the construction of 488 thousand new houses in the areas affected by earthquakes is planned.
The earthquake of magnitude 7.7 occurred in Turkey on the night of February 6, followed by a series of aftershocks, one of which had a magnitude of 7.6. These tremors caused serious damage and casualties in neighboring Syria as well.

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46 thousand people were killed in Turkey and Syria as result of earthquake

The number of victims of earthquakes that occurred in early February in the south-east of Turkey has reached nearly 46 thousand people, the country’s Interior Minister Suleyman Soylu said.
“So far, 45,968,000 people have died as a result of earthquakes, including 4,267 Syrians,” Anadolu Agency quoted him as saying.
A magnitude 7.7 earthquake hit Turkey on the night of February 6, followed by a series of echo pushes, one of which had a magnitude of 7.6. The earthquake also caused serious damage and casualties in neighboring Syria.

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Turkey is working on extension of “grain deal”

Turkish Foreign Minister Mevlut Cavusoglu said the country’s authorities are working hard to extend the Black Sea grain initiative, Reuters reported.
“We are working hard for the smooth implementation and further extension of the Black Sea grain deal,” Çavuşoğlu said, speaking at a UN conference in Qatar.
The Turkish diplomatic chief added that he discussed efforts to extend the “grain deal” with UN Secretary-General António Guterres.
On July 22, 2022 in Istanbul with the participation of the UN, Russia, Turkey and Ukraine signed documents to create a corridor for the export of grain from the three ports on Ukrainian territory – the Chernomorsk, Odessa and Yuzhny. At the end of February, it was reported that the volume of exports of Ukrainian food products within the framework of the grain deal exceeded 22 million.
The initiative expires on March 18 this year.

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Four dry cargo ships will deliver Ukrainian food to China, Turkey, Spain and Belgium

Four dry-cargo ships with more than 250,000 tons of food left Ukrainian ports on Wednesday, the Joint Coordination Center (JCC) reports.
According to JCC the Laskaro S vessel will deliver 62 088 tons of corn to Belgium, the Astra Perseus dry-cargo carrier will carry 55 thousand tons of corn to Spain. Vessel Geneve is going to Turkey with 32 thousand tons of wheat and 33 thousand tons of barley. Andonis dry-cargo carrier set a course for China, carrying 48 502 tons of corn and 18.7 thousand tons of sunflower meal.
It is noted that four more dry-cargo ships are heading for the ports of Ukraine.
“The total tonnage of grain and other agricultural products exported from the three Ukrainian ports is 22,747,287 tons. The total number of agreed ship movements is 1,543,” the report said.
SKC reported that “100 applications for participation in the initiative have been submitted.”

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