Business news from Ukraine

GOVERNMENT PROPOSES TO ABOLISH IMPORT DUTY ON CEREALS, VEGETABLES

The Cabinet of Ministers proposes to the Verkhovna Rada to adopt the bill “On Amending the Customs Tariff of Ukraine regarding the temporary application of import duty rates on certain types of grain crops.”
Relevant bill No. 3310 was registered in parliament on April 7, 2020.
The text of the bill is not yet available on the Rada’s website. However, an informed source on the market, explained in a comment to Interfax-Ukraine that it was about canceling duties on the import of vegetables and cereals before July 1.

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LEADING PRODUCER OF CEREALS IN UKRAINE DECIDES TO CHANGE PLACE OF REGISTRATION FROM CYPRUS TO POLAND

The Board of Directors of the Cereal Planet Group, a leading producer of cereals in Ukraine, has approved the decision to change the place of registration from Cyprus to Poland, the company has reported on the Warsaw Stock Exchange (WSE) on Friday.
According to the report, shareholders at an extraordinary meeting on August 12 made this decision. Now Cereal Planet is going through the registration process in the relevant authorities of Poland. The plans are to register a holding company of the group called Cereal Planet S.A. in Warsaw.
Cereal Planet produces weight grains for B2B under the OLIMP trademark – four product lines: Bulgur, Ridlan, Mayfayna, Zlatokositsa, and under the Lyuba Ferma trademark – animal feed mixtures. It exports cereals to more than 30 countries.
Cereal Planet, according to the company, occupies up to 10% of the Ukrainian cereal market. The monthly production volume is 4,500-5,000 tonnes.
The owners of the group are Anatoliy and Oleksandr Vlasenko (33.54% and 29.93% respectively), Oleksandr Slavhorodsky (29.93%), and Ihor Dobruskin (5.5%).

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UKRAINE FULLY USES QUOTAS FOR DUTY-FREE EXPORTS OF AGRI PRODUCTS TO EU INCLUDING HONEY, SUGAR, CEREALS, GRAPE AND APPLE JUICE, WHEAT, CORN

Ukraine as of July 22 had fully used quotas for duty-free exports of agricultural products to the EU on nine groups of goods, including honey, sugar, cereals and flour, processed starch, processed tomatoes, grape and apple juice, wheat, corn, and butter. According to a press release from the Ukrainian Agribusiness Club (UAC), the pace of quota use and revival of trade with the EU is noticeably accelerating, as on the same date last year seven quotas for duty-free exports from Ukraine to the EU were used.
“Potentially, quotas for barley (79% are now used), poultry (75%), malt and wheat gluten (58%), and starch (53%) will be used by the end of the year,” the association noted.
The UAC said additional quotas for eight groups of goods come in force from October 2017 for a period of three years: for honey, flour and cereals, processed tomatoes, grape and apple juice, oats, corn, wheat, and barley. As of July 22, five of the additional quotas were used: for honey, cereals, juice, wheat, and corn.

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