Business news from Ukraine

UKRAINIAN EPICENTER K INVESTS UAH 3 BLN IN AGRICULTURE

The agricultural division of the Epicenter K Group has launched two new silos and expanded the capacities of two more silos in Vinnytsia and Khmelnytsky regions and the number of own silos grew from six to eight and their total storage capacities expanded to over 800,000 tonnes.
According to the group’s press release, two new silo complexes were launched in Vinnytsia region: Vendychany (Mohyliv-Podilsky district) with a storage capacity of 120,000 tonnes and Vapniarka (Tomashpil district) with a storage capacity of 200,000 tonnes.
In addition, the reconstruction of the Vinnytsia elevator was completed, as a result of which its storage capacity was increased to 168,000 tonnes, the capacity of the Zakupne silo complex (Khmelnytsky region) also increased by 60,000 tonnes – after reconstruction, the enterprise can dry and store 105,000 tonnes of grain.
The investments of Epicenter K in the development and reconstruction of the silo business amounted to about UAH 3 billion.
According to the group, in the current season the new and upgraded silos of the company plan to accept about 50,000 tonnes of grain from external depositors for refinement and storage.
The Epicenter K said that the construction of a new silo in Vinnytsia with a capacity of 208,000 tonnes recently began. Work on the completion of the third phase of the Zakupne silo complex with a capacity of 184,000 tonnes is underway, as well as the restructuring of two more enterprises – Pererobnyk in Kyiv region, which storage capacities will expand by 105,000 tonnes, and Nemyriv silo complex in Vinnytsia region, where grain storage volumes will increase by 104,000 tonnes.
After the implementation of all projects, the silo grain storage capacity until the end of the 2019/2020 agricultural year will expand to 1 million tonnes. The company plans by the end of the 2020/2021 agricultural year to increase the company’s grain storage capacity to 2 million tonnes.
The total cost of projects for the development and reconstruction of silo complexes is estimated at UAH 4.6 billion.

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UKRAINE AND ISRAEL SIGN DOCUMENTS ON COOPERATION IN AGRICULTURE, ECONOMICS, EDUCATION, SPORTS

Ukraine and Israel signed bilateral documents on cooperation in agriculture, economics, education, culture, as well as youth and sports. “A series of Ukrainian-Israeli documents were signed in the presence of President of Ukraine Volodymyr Zelensky and Prime Minister of Israel Benjamin Netanyahu,” the presidential press service reported on Monday.
Thus, Acting Minister of Agrarian Policy and Food of Ukraine Olha Trofimtseva and Ambassador Extraordinary and Plenipotentiary of the State of Israel to Ukraine Joel Lyon signed a Memorandum of Understanding on cooperation in the sphere of agriculture between the Ministry of Agrarian Policy and Food of Ukraine and the Ministry of Agriculture and Rural Development of the State of Israel.
In addition, Ambassador Extraordinary and Plenipotentiary of Ukraine to the State of Israel Hennadiy Nadolenko and Ambassador Extraordinary and Plenipotentiary of the State of Israel to Ukraine Joel Lyon signed an Agreement between the Ministry of Education and Science of Ukraine and the Ministry of Education of the State of Israel as regards facilitating the study of the Hebrew language in the educational institutions of Ukraine and the study of the Ukrainian language in the educational institutions of the State of Israel.
In addition, the ambassadors of the two states signed a Program of Cooperation in the spheres of education, culture, youth and sports between the Cabinet of Ministers of Ukraine and the Government of the State of Israel for 2019-2022.
State Secretary of the Ministry of Economic Development and Trade of Ukraine Oleksiy Perevezentsev and Ambassador Extraordinary and Plenipotentiary of the State of Israel to Ukraine Joel Lyon signed a Memorandum of Understanding between the Ministry of Economic Development and Trade of Ukraine and the Israeli Patent Office of the Ministry of Justice of the State of Israel.

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U.S. DEPARTMENT OF AGRICULTURE REVIEWS FORECAST FOR EXPORT OF UKRAINIAN WHEAT TO 19 MLN TONNES

The U.S. Department of Agriculture (USDA) has reviewed downwards the forecast for export of Ukrainian wheat in 2019/20 agricultural year (July-June) by 0.5 million tonnes, to 19 million tonnes, and harvest – by 1 million tonnes, to 29 million tonnes, according to a July report of the USDA posted on its website. According to the report, compared with the June report, the forecast for the export of barley in 2019/20 agri-year was also lowered to 4.2 million tonnes (by 0.3 million tonnes) due to the deterioration of the forecast for the production of this crop to 8.5 million tonnes (by 0.5 million tons).
At the same time, the forecast for the export of corn has been increased to 28 million tonnes (by 1 million tonnes) with improving the forecast of the corn harvest to 34 million tonnes (by 1 million tonnes).
Thus, in general, the grain harvest forecast for 2019/20 agri-year in Ukraine has been reduced to 72.55 million tonnes (by 0.5 million tonnes compared with the June forecast), exports increased to 51.39 million tonnes (by 0.2 million tonnes).
As reported, Ukraine’s Agricultural Policy and Food Ministry predicts an increase in the yield of grain in 2019 to 70.8 million tonnes with a gross harvest of grain in the 2018/19 agricultural year at the level of 70.1 million tonnes.

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UKRAINE IS NOT ONLY AGRICULTURE, METALLURGY, FOOD, IT’S ALSO IT INDUSTRY – VOLODYMYR ZELENSKY

President of Ukraine Volodymyr Zelensky is convinced that Ukraine should be associated not only with agriculture, mines and metallurgy, beautiful people, nature and food, but also with the IT industry. “There has always been a vision for everyone in the world that Ukraine is, above all, agriculture, mines, metallurgists, and tourists have always said that Ukraine is very beautiful, food here is very tasty and people are very beautiful, especially women. Yes, that’s it and it remains our brand, but there are other figures that indicate that the IT industry, IT technologies and companies are developing very quickly in Ukraine,” he said during a visit to Station F, the world’s largest startup campus, in Paris.
According to Zelensky, more than 4% of Ukraine’s GDP is now formed through the IT industry. “We have about 150,000 IT specialists, startup initiators in Ukraine. I think that we will develop in this direction,” he said.
Zelensky noted that in Ukraine there is no such campus for startups yet, but they will work on it. “We have a lot of factories, which, unfortunately, do not work. We will definitely find such a large building,” he said.

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U.S. DEPARTMENT OF AGRICULTURE PREDICTS GROWTH IN EXPORTS OF UKRAINIAN RAPESEEDS

The U.S. Department of Agriculture (USDA) has predicted growth in exports of rapeseeds from Ukraine in 2019/2020 agricultural year (September-August) by 1 million tonnes year-over-year, to 3.5 million tonnes.
According to a June report of USDA, the forecst for exports of oilseeds was revised downwards to 5.55 million tonnes (a decrease by 10,000 tonnes compared with the May report), that for oilseed crushing – to 16.7 million tonnes (a decease by 10,000 tonnes).
USDA also slightly reviewed downwards the forecasts for 2019/2020 agri-year for export of Ukrainian vegetale oil, to 6.1 million tonnes (a decrease by 2,000 tonnes) and oilseed cake, to 5.92 million (a decline by 8,000 tonnes).
USDA in June left unchanged the forecast for exports of sunflower seeds for 2019/2020 agri-year: it would be 150,000 tonnes, meal – 4.7 million tonnes and oil – 5.6 million tonnes.
USDA reviewed downwards the forecast for Ukrainian soybeans: exports of soybean meal to 1.9 million tonnes (a decrease by 100,000 tonnes), exports of soybeans – to 1 million tonnes (a decline by 80,000 tonnes over the smaller volumes of its production).
The USDA’s forecast for oilseed crushing in Ukraine for this season is 16.65 million tonnes, oilseed exports – 5.15 million tonnes, meal exports – 5.17 million tonnes and vegetable oil exports – 6.21 million tonnes.

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U.S. DEPARTMENT OF AGRICULTURE PREDICTS EXPORT OF VEGETABLE OIL FROM UKRAINE AT 6.12 MLN TONNES

The U.S. Department of Agriculture (USDA) predicts that export of vegetable oil from Ukraine in the 2019/20 agricultural year (September-August) will be 6.12 million tonnes, which is 90,000 tonnes less than in 2018/19 agri-year (6.21 million tonnes).
According to the May report, forecast for oilseed crushing for 2019/20 agri-year were improved by 150,000 tonnes, to 16.8 million tonnes.
USDA said that next agri-year sunflower seed production in Ukraine could decrease by 200,000 tonnes year-over-year, to 14.8 million tonnes, meal – by 123,000 tonnes, to 5.99 million tonnes and oil – by 129,000 tonnes, to 6.24 million tonnes.
Export of sunflower seeds in 2019/20 agri-year should grow by 50%, to 150,000 tonnes, meal – by 6%, to 4.7 million tonnes and oil – by 3.4%, to 5.6 million tonnes.

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