Business news from Ukraine

U.S. DEPARTMENT OF AGRICULTURE IMPROVES FORECAST FOR WHEAT EXPORTS FROM UKRAINE

The U.S. Department of Agriculture (USDA) in the report for August improved the forecast for the export of Ukrainian wheat in the 2021/2022 marketing year (MY, July-June) by 2.5 million tonnes compared to the forecast in July, to 23.5 million tonnes.
The forecast for wheat harvest in Ukraine in the new marketing year has been increased by 3 million tonnes compared to the July forecast, to a record 33 million tonnes. As noted in the USDA, this figure has been increased due to the expansion of the area under this crop, as well as due to its higher yield this season.
In the August report, the USDA also improved the forecast for the corn crop and its exports from Ukraine in 2021/2022 MY by 1.5 million tonnes compared to the July forecast. Thus, corn production is expected to grow from 37.5 million tonnes to 39 million tonnes, its export – from 30.5 million tonnes to 32 million tonnes. As explained, the forecast for corn harvest in Ukraine has been increased, as the reduction in acreage under this crop is more than offset by an increase in its yield prospects.
As reported, since the beginning of 2021/2022 MY and as of August 6, 2021, Ukraine has exported 3.63 million tonnes of grains and legumes, which is 12% more than on the same date of the previous MY. It also exported 1.31 million tonnes of barley (23.2% more compared to the same date in 2020/2021MY), 1.25 million tonnes of wheat (a quarter less), 1.05 million tonnes of corn (2.1 times more), 13,500 tonnes of flour (1.6 times less).

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U.S. DEPARTMENT OF AGRICULTURE IMPROVES FORECAST OF UKRAINIAN SUNFLOWER OIL EXPORT BY 19%

The U.S. Department of Agriculture (USDA) in its June report has improved the projections for the export of Ukrainian sunflower oil in 2021/22 marketing year (September-August) by 1.02 million tonnes (a rise of 18.9% compared to 2020/21), to 6.4 million tonnes, its production – by 1.05 million tonnes (a rise of 17.7%), to 6.98 million tonnes.
According to a report published on the USDA website, the projection for sunflowerseed production in Ukraine in the current marketing year has been improved by 2.6 million tonnes (a rise of 18.5%), to 16.7 million tonnes.
In its June report, the USDA improved its forecast for Ukraine’s exports of sunflowerseed meal in 2021/22 by 0.7 million tonnes (a rise of 15.2% versus 2020/21), to 5.3 million tonnes, its production – by 1.01 million tonnes (a rise of 17.7%), to 6.71 million tonnes.
According to the USDA, Ukraine in 2021/22 will remain the main world exporter of sun sunflowerseed flower oil, while world production of sunflowerseed oil will grow by 10.2%, to 21.15 million tonnes.

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UKRAINE APPROVES RULES FOR LABELING MEAT, OLIVE OIL, HONEY

The Ministry of Economic Development, Trade and Agriculture of Ukraine has established rules for labeling meat, olive oil and honey in accordance with EU legislation, regulating the procedure for entering data on the country and place of origin on the packaging of products, the department said on the website on Monday.
According to resolution No. 679 dated April 1, 2021 promulgated by the department, the marking is established for fresh, chilled and frozen poultry meat, cattle, pork, lamb and goat meat, by-products of cattle and poultry, honey, virgin olive oil and extra virgin olive oil.
The document prescribes the indication on the packaging of meat and its products of the following information: country (countries) of origin, fattening, slaughter of animals; a number or code for reference providing a link between the meat and the animal (group of animals) from which the meat was obtained; registration number and country of location of the abattoir; registration number and country of the meat stripping and deboning capacity.
Labeling refers to products manufactured in Ukraine or imported (sent) into the customs territory of Ukraine, at all stages of their sale. The document does not apply to products intended for personal consumption.
The resolution comes into force from the day of its official publication and is put into effect three years from the date of its entry into force.
The document specifies that products made before the entry into force of this resolution, but do not meet its requirements, may be in circulation until the end date of consumption or expiration date.
“The resolution was drafted on the basis of the requirements of the EU acts and is another step towards our European integration, as well as the creation of a common food market with the European Union. As a result of the adoption of the resolution, consumers will receive more detailed information about the country or place of origin of food products. This will also allow to reduce opportunities for counterfeiting and falsification of food products,” Deputy Economy Minister Serhiy Hluschenko said.

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U.S. DEPARTMENT OF AGRICULTURE IMPROVES FORECAST FOR EXPORT OF SUNFLOWER OIL FROM UKRAINE

The U.S. Department of Agriculture (USDA) in May improved the forecast for the export of Ukrainian sunflowerseed oil in 2021/2022 (September-August) by 18.9% compared to 2020/21, to 6.4 million tonnes, with an increase in its production by 17.7%, to 6.99 million tonnes. According to the monthly report of the department, in 2021/2022, an increase in sunflowerseed production in Ukraine is expected by 18.4% compared to 2020/2021, to 16.7 million tonnes, sunflowerseed meal exports are expected to grow by 16.4%, to 5.3 million tonnes.
The USDA said that the growth in exports of sunflower oil and meal compared to the low level of the last marketing season will be due to the recovery of oil extraction volumes in Ukraine.
The U.S. Department of Agriculture also said that Ukraine rapeseed production is forecast to recover from last season’s low level, rising 200,000 tonnes to 3.0 million. Exports are projected to rise 190,000 tonnes to 2.6 million. Exports of rapeseed meal at 175,000 tonnes and oil at 165,000 tonnes are forecast to rise.

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KOREAN INVESTORS PLAN TO INVEST IN UKRAINIAN AGRICULTURE

Head of Kirovohrad Regional State Administration Andriy Nazarenko and the director of Posco International Corporation on March 19 signed a memorandum of understanding, providing for mutually beneficial cooperation in the agricultural sector and expansion of investments in Kirovohrad region, the press service of Kirovohrad Regional State Administration reported. “For five and a half years I worked in Seoul, at the Ukrainian Embassy in the Republic of Korea, so I know this country well, I know its traditions, and this is a very powerful company. And the most important thing is that Posco knows about Ukraine. In 2019, the company made a powerful investment having built a terminal in Mykolaiv region. The company wants to develop it. Posco is interested in ground elevators. I really hope that the company will build one in Kirovohrad region,” the press service said citing Nazarenko.
The representative of the Korean company emphasized his interest in investments, business development in Ukraine and cooperation with Kirovohrad Regional State Administration.
“We look forward to further cooperation,” he said.
Posco International is one of the largest South Korean trading companies.
The main areas of activity are trade in agricultural products, goods of metallurgical and chemical industries, as well as the implementation of investment projects in the energy sector.

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USDA IMPROVES FORECAST OF GRAIN EXPORTS FROM UKRAINE

The U.S. Department of Agriculture (USDA) in January improved the forecast for grain exports from Ukraine in the 2020/2021 agricultural year (July-June) by 0.2 million tonnes compared to the December forecast, to 45.81 million tonnes with a yield of 64.21 million tonnes due to a reduction in consumption estimates.
According to the ministry’s monthly report, this concerns crops such as barley, oats, rye, millet and sorghum, while the forecast for wheat and corn is kept unchanged.
In particular, the U.S. Department of Agriculture expects the export of 24 million tonnes of corn with a harvest of 29.5 million tonnes and exports of 17.5 million tonnes of wheat with a harvest of 25.5 million tonnes, respectively.
According to the U.S. Department of Agriculture, in the previous agricultural year Ukraine exported 16.02 million tonnes of wheat with a harvest of 25.06 million tonnes, 30.32 million tonnes of corn with a harvest of 35.81 million tonnes, and in general, grain exports amounted to 50.09 million tonnes with a harvest of 69.56 million tonnes.

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