Business news from Ukraine

UKRAINE RAISES CHEESE IMPORTS BY 1.6 TIMES TO $57.27 MLN

Ukraine in January-August 2019 exported 4,340 tonnes of cheese, which is 19.5% less than in the same period in 2018.
According to customs statistics released by the State Fiscal Service, in monetary terms exports amounted to $15.64 million, which is 22% less than the figure for the eight months of 2018.
At the same time, cheese imports in January-August 2019 amounted to 12,500 tonnes, which is 1.6 times more than the figure for the same period in 2018. In monetary terms, imports rose by 49.5%, to $57.27 million.
Export of butter from Ukraine in January-August of this year decreased by 34.3%, to 14,100 tonnes, in money terms by 37.2%, to $58.1 million. Import of this product, according to the service, rose by 33%, to 950 tonnes ($5.28 million).
In January-August, export of milk and cream (condensed) rose by 9.5%, to 29,170 tonnes. Ukraine supplied condensed milk and cream for a total of $61.85 million against $43.77 million in January-August 2018. Imports of this group of goods decreased by 6.6%, to 1,330 tonnes ($2.91 million).

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LARGE UKRAINIAN PRODUCER OF BUTTER AND CHEESE UKRPRODUCT INCREASES NET PROFIT

The Ukrproduct Group, a large Ukrainian producer of packaged butter and processed cheese, saw GBP 0.74 million of net profit in H1, 2019 that is 1.8 times more than over the same period in 2018.
According to the company’s report posted on the London Stock Exchange, Ukrproduct revenue saw 1.5-fold rise, reaching GBP 22.24 million, and gross profit grew by 1.55 times, up to GBP 1.93 million.
Through the first six months of 2019 operating profit of the company totaled GBP 0.4 million compared with operating loss of GBP 0.19 million in H1 2018.
As at June 30, 2019, the group had total liabilities of GBP 16.8 million against GBP 15.1 million in 2018, net assets and net assets of GBP 1.3 million million with cash balances of GBP 0.2 million.
According to the group, the main drivers of revenue growth were butter, beverages and processed cheese. The Company estimates that Ukrproduct’s butter market share in Ukraine has increased by approximately 3% to 10.1% when comparing H1 2019 with H1 2018, whilst market share in processed cheese and processed cheese products has decreased by approximately 0.3% to 8.5% when comparing H1 2019 with H1 2018.
“However, in the first half of 2019, Ukrproduct became the top exporter of processed cheese in Ukraine. Hard cheese sales decreased by 2%, whilst sales of bulk & packaged spreads increased by 17%,” the group said.
As the group said, sales of kvass beverage improved, driven by an active marketing strategy and the launch of a new product containing natural ingredients of juice and mint.
The most significant portion of the Group’s revenue comes from selling packaged butter and supplementary products, which represented 57.2% in the first half of 2019 and 45.9% in first half of 2018 of total revenue for the relevant periods.
Export sales of Ukrproduct increased due to rising export sales in supplementary products, however, export sales of packaged butter and spreads decreased overall. Skimmed milk products exports continue to decline as a result of worldwide prices being lower than domestic market prices.
The Group continues to expand export sales into non-dairy products: beverages and other food commodities.
Ukrproduct Group produces branded dairy goods (the Nash Molochnyk, Narodny Produkt, Vershkova Dolyna and other trademarks).

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UKRAINE INCREASES IMPORT OF CHEESES TO $47.79 MLN

Ukraine in January-July 2019 exported 3,670 tonnes of cheese, which was 19.4% less that in January-July 2018. According to customs statistics released by Ukraine’s State Fiscal Service (SFS), cheese exports in monetary terms amounted to $13.08 million, which was 23% lower than the figure for the first seven months of 2018.
At the same time, imports of cheese in January-July 2019 totaled 10,380 tonnes, which was 1.6 times more than in January-July last year. The imports in monetary terms increased 46.2%, to $47.79 million.
Exports of Ukrainian creamery butter in January-July 2019 decreased 32.9%, to 12,890 tonnes. The exports in monetary terms decreased 35.3%, to $53 million. Imports of creamery butter, according to the SFS, decreased by 7.2%, to 591 tonnes ($3.7 million).
In January-July 2019, exports of condensed milk and cream grew by 19.1%, to 26,640 tonnes. Ukraine supplied condensed milk and cream to the tune of $56.64 million, which was 1.5 times more than in January-July 2018. Their imports decreased 9.5%, to 1,100 tonnes ($2.37 million).
As reported, Ukraine in 2018 imported 13,720 tonnes of cheese (37.1% up from 2017) and exported 8,340 tonnes of cheese (7.8% down from 2017). Last year, exports of butter remained at the level of 2017, imports increased slightly, to 1,100 tonnes. Exports of condensed milk and cream totaled 35,550 tonnes (24.1% down from 2017), imports were 2,360 tonnes (38.6% up from 2017).

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UKRAINE SIGNIFICANTLY INCREASES IMPORTS OF CHEESE IN Q1 2019

Ukraine in January-March 2019 exported 1,650 tonnes of cheese, which was 14% less that in January-March 2018.
According to customs statistics released by Ukraine’s State Fiscal Service (SFS), cheese exports in monetary terms amounted to $5.8 million, which was 19% lower than the figure for the first three months of 2018.
At the same time, imports of cheese in January-March 2019 totaled 4,000 tonnes, which was 43% more than in January-March last year. The imports in monetary terms increased 31%, to $18.9 million.
Exports of Ukrainian creamery butter in January-March 2019 decreased 35%, to 5,900 tonnes. The exports in monetary terms decreased 38%, to $23.8 million. Imports of creamery butter, according to the SFS, decreased by 33%, to 211 tonnes ($1.44 million).
In January-March 2019, exports of condensed milk and cream decreased by 23%, to 5,900 tonnes. Ukraine supplied condensed milk and cream to the tune of $11.3million, which was 13.6% less than in January-March 2018. Their imports decreased 10.6%, to 468 tonnes ($970,000).
As was reported, Ukraine in 2018 imported 13,720 tonnes of cheese (37.1% up from 2017) and exported 8,340 tonnes of cheese (7.8% down from 2017).
Last year, exports of butter remained at the level of 2017, imports increased slightly, to 1,100 tonnes.
Exports of condensed milk and cream totaled 35,550 tonnes (24.1% down from 2017), imports were 2,360 tonnes (38.6% up from 2017).

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UKRAINE INCREASES CHEESE EXPORT

Ukraine in January and February 2019 exported 1,010 tonnes of cheese, which was 3.2% up on January and February 2018.
According to customs statistics released by Ukraine’s State Fiscal Service (SFS), cheese exports in monetary terms amounted to $3.5 million, which was 2.8% lower than the figure for the first two months of 2018.
At the same time, imports of cheese in January and February 2019 totaled 2,600 tonnes, which was 46.3% more than in January and February last year. The imports in monetary terms increased 35.2%, to $12.3 million.
Exports of Ukrainian creamery butter in January and February 2019 decreased almost 37.5%, to 3,900 tonnes. The exports in monetary terms decreased 40.2%, to $15.9 million. Imports of creamery butter, according to the SFS, decreased by 44.5%, to 152 tonnes ($983,000).
In January and February 2019, exports of condensed milk and cream decreased by 32.4%, to 3,600 tonnes. Ukraine supplied condensed milk and cream to the tune of $6.5 million, which was 25.3% less than in January and February 2018. Their imports decreased 7.5%, to 309 tonnes ($633,000).
As was reported, Ukraine in 2018 imported 13,720 tonnes of cheese (37.1% up from 2017) and exported 8,340 tonnes of cheese (7.8% down from 2017).
Last year, exports of butter remained at the level of 2017, imports increased slightly, to 1,100 tonnes.
Exports of condensed milk and cream totaled 35,550 tonnes (24.1% down from 2017), imports were 2,360 tonnes (38.6% up from 2017).

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UKRAINE BOOSTS CHEESE IMPORTS IN JAN TO $5.6 MLN

Ukraine in January 2019 exported 455 tonnes of cheese, which was 23.5% up on January 2018. According to customs statistics released by Ukraine’s State Fiscal Service (SFS), cheese exports in monetary terms amounted to $1.5 million, which was 20% higher than the figure for the first month of 2018.
At the same time, imports of cheese in January 2019 totaled 1,180 tonnes, which was 35.7% more than in January last year. The imports in monetary terms increased by 30%, to $5.6 million.
Exports of Ukrainian creamery butter in January 2019 decreased by 28.5%, to 1,750 tonnes. The exports in monetary terms decreased by 37%, to $7.1 million. Imports of creamery butter, according to the SFS, decreased by 21%, to 90 tonnes ($585,000).
In January 2019, exports of condensed milk and cream decreased by 9%, to 2,150 tonnes. Ukraine supplied condensed milk and cream to the tune of $3.67 million, which was 3% less than in January 2018. Their imports decreased by 21%, to 167 tonnes ($325,000).
As was reported, Ukraine in 2018 imported 13,720 tonnes of cheese (37.1% up from 2017) and exported 8,340 tonnes of cheese (7.8% down from 2017).
Last year, exports of butter remained at the level of 2017, imports increased slightly, to 1,100 tonnes.
Exports of condensed milk and cream totaled 35,550 tonnes (24.1% down from 2017), imports were 2,360 tonnes (38.6% up from 2017).

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