In Ukraine there is a significant decrease in selling prices for sugar, which are 26.5-27.5 UAH/kg, which is caused not so much by the growth of sugar reserves in the country, but by difficulties with exports, said the analytical cooperative “Pusk”, established within the framework of the All-Ukrainian Agrarian Rada (VAR).
“In August, Ukraine exported only 3-4,000 tons of sugar, which is critically low compared to the 100,000 tons exported two months ago. The Ukrainian sugar market is facing difficulties as we are now fully focused on domestic consumer demand,” analysts said.
Experts expect further increase in sugar stocks in Ukraine as domestic production will grow. Against the background of closed exports to Europe, Ukrainian producers need to look for new markets, they advise.
“In the new season, Europe will also increase sugar production, which will complicate the realization of Ukrainian products internationally. Objectively, by January 2025, Ukraine will have to either pay high export duties or wait for the zeroing of quotas,” Pusk stated and added that prices will be low in the new season.
Philip Morris International (PMI) in January-June 2024 increased tax deductions to budgets of different levels by 33.5%, or UAH 6 billion, compared to the same period of 2023 – up to UAH 23.9 billion, the company said in a press release on Wednesday.
“Important factors for the increase in tax deductions were the recovery of the company’s share in the Ukrainian market, as well as the launch of a new factory, in which the company invested $30 million,” PMI Ukraine CFO Sergiy Kalnoochenko is quoted in the release.
It is specified that excise tax accounted for UAH 12 bln, VAT – UAH 3.2 bln.
Last year PMI reported on payment of 30.3 billion UAH of taxes in Ukraine.
Kralnoochenko added that the growth of tax payments was also facilitated by the increase in the legal tobacco market, which became possible due to the active struggle of state authorities with illegal producers.
According to him, Philip Morris will continue to invest in the development of its own business, as a result of which in August 2024 it plans to pay to the budget more than 3.5 billion hryvnias of excise tax alone as part of direct production at the newly opened factory in Lviv region and its own imports, as well as under a local contract for contract manufacturing.
Philip Morris was spun off from Altria in 2008 and is among the world’s largest tobacco manufacturers, declaring the goal of full transition to smokeless products in the future.
PMI has been operating in the Ukrainian market since 1994, and during this time its declared investments have exceeded $750 million. The company has suspended operations at its factory in Kharkiv region since February 24, 2022 due to Russian aggression and was forced to switch to importing products from eight PMI factories outside the country and a temporary partnership with another international manufacturer in Ukraine. In May this year, the company officially launched a new factory in Lviv region with an announced investment of $30 million.
PMI cut shipments in the Ukrainian market by 30.1% to 11.07 billion cigarettes and tobacco sticks in 2022 due to the war, but it managed to increase finished goods shipments by 8.4% in 2023, including a 14.9% increase in the fourth quarter. Last October, the company said its share of the Ukrainian market had recovered to 24% after dropping to 14% from 28.5% in the first months after the Russian Federation invasion.
According to customs statistics released by the State Customs Service of Ukraine, Ukrainian enterprises in January-July 2024 increased exports of aluminum and aluminum products by 16.8% compared to the comparable period a year earlier – to $64.382 million (in July – $10.207 million).
Exports of aluminum and aluminum products in 2023 increased 0.7% year-on-year to $97.616 million (July – $10.207 million),
Aluminum is widely used as a structural material. The main advantages of aluminum in this capacity are its lightness, pliability for stamping, corrosion resistance, high thermal conductivity, and the non-poisonous nature of its compounds. In particular, these properties have made aluminum extremely popular in the production of kitchen utensils, aluminum foil in the food industry, and for packaging. The first three properties have also made aluminum a major raw material in the aviation and aerospace industries (recently displaced by composites, primarily carbon fiber). After construction and production of packaging – aluminum cans and foil – the largest industry-consumer of the metal is the energy sector.
Prices for construction and installation works in Ukraine in June 2024 increased by 8.4% compared to June 2023, reported the State Statistics Service (Gosstat).
According to the State Statistics Service, in June 2024 to June 2023 prices increased in all segments of construction: in residential construction growth amounted to 8.9%, in non-residential – 9%, in engineering – 7.7%. Compared to May of this year, prices increased by 1%, 0.6% and 0.5% respectively.
At the end of the second quarter, prices for construction work rose by 8.1% year-on-year in April-June 2023, and at the end of the first half of the year – by 9.7% compared to the same period a year earlier.
As reported, in 2023, prices for construction works increased by 15.8% year-on-year.
The State Statistics Committee pointed out that the indicators are given without taking into account the temporarily occupied territories and part of the territories where there are (were) hostilities.
The Antimonopoly Committee of Ukraine has launched an investigation against the producer of water “Karpatska Dzherelna” for possible misleading of consumers. Delo.ua* reports with reference to the AMCU’s statement.
It is noted that the agency has initiated consideration of case No. 127-26.4/116-24 on the grounds of a violation by Carpathian Mineral Waters Limited Liability Company, as provided for in Article 15-1 of the Law of Ukraine “On Protection against Unfair Competition”, in the form of dissemination of misleading information.
“The subject matter of the case is, in particular, the actions of Carpathian Mineral Waters LLC in the form of disseminating information about the water of the Carpathian Dzherelna trademark, namely, the origin and characteristics of such products,” the AMCU notes.
The agency draws attention to the fact that “Karpatska Dzherelna” is extracted from wells, so it cannot be called “spring water”. In addition, the water under this brand has nothing to do with the Carpathians, as it is extracted and packaged hundreds of kilometers away.
The AMCU adds that such actions, in the absence of appropriate confirmation of such information by Carpathian Mineral Waters LLC, contain signs of a violation under Article 15-1 of the Law of Ukraine “On Protection against Unfair Competition” in the form of dissemination of misleading information to consumers.
About Carpathian Mineral Waters
“Carpathian Mineral Waters has been a national producer of mineral waters and soft drinks for over 15 years.
The company started its activities in the mineral water market in 1996 with the first bottling of mineral natural table water under the brand name Karpatska Dzherelna, and in June 2002 was reorganized into a plant for the production of mineral water and soft drinks Karpatski Mineralni Vody. In 2002, the company started production of sweet carbonated drinks under the Fruktova Dzherelna and Sokovynka brands, and in 2016 – the Dragon energy drink.
Today, the Carpathian Mineral Waters Group of Companies is a powerful player in the Ukrainian market of natural mineral waters and soft drinks.
Karpatska Dzherelna mineral water is extracted from two artesian wells at a depth of 90 meters from a natural source. According to the company, the production facility is located right next to the source, and the water from the wells is piped to the bottling line. During the bottling process, the water is filtered only from mechanical impurities and retains all useful natural trace elements.
As a reminder, the Antimonopoly Committee of Ukraine has imposed a fine of almost UAH 1 million on three companies of businessman Viacheslav Suprunenko.
Thus, Kyiv Plant Rosinka LLC was fined UAH 169,999, Kyiv BCC LLC was fined UAH 300,000, and Kyivkhlib LLC was fined UAH 500,000. The penalty was imposed for violation of the legislation on protection of economic competition by acquiring assets in the form of a single property complex of PrJSC “Kraplynka” without the AMCU’s permission.
Ukraine has won 12 medals at the 2024 Olympic Games.
“Ukraine won gold: Oleksandr Khyzhnyak (boxing up to 80 kg); Yaroslava Maguchikh (high jump); Olga Harlan, Alina Komashchuk, Olena Kravatska and Yulia Bakastova (team sabre).
The following won silver medals: Parviz Nasibov (Greco-Roman wrestling up to 67 kg); Iryna Kolyadenko (freestyle wrestling up to 62 kg); Lyudmyla Luzan and Anastasiia Rybachok (canoe double sprint, 500 m); Ilya Kovtun (parallel bars); Serhii Kulish (rifle shooting from 50 m from three positions).
The bronze medalists were: Zhan Beleniuk (Greco-Roman wrestling up to 87 kg); Mykhailo Kokhan (hammer throw); Iryna Gerashchenko (high jump); Olga Harlan (sabre).
As of 15:00, Ukraine ranks 22nd in the medal standings.
The 2024 Olympic Games were held in Paris from July 26 to August 11.
