Economy

Oil prices rose slightly on Thursday, January 26. The market is waiting for the start of the EU ban on russian oil products.

The European Bank for Reconstruction and Development (EBRD), with the assistance of the Dutch government, will provide 25 million euros to support the agricultural sector of Ukraine.

Three bulkers with Ukrainian wheat are planned to be sent to Kenya, Yemen and Sudan.

At the end of December, JSC “Ukrzaliznytsia” concluded agreements with Lithuanian Orlen Lietuva and Singaporean Exxonmobil Asia Pacific PTE. LTD on the purchase of diesel fuel.

The grain agreement expires in less than 60 days. Currently, there is a question about the continuation of the initiative.

Russia’s full-scale invasion affected every part in Ukraine’s state machine. Export — one of the most important drives of the Ukrainian economy — was under threat of destruction. Everyone suffered losses – farmers, shippers and buyers, but Ukraine withstood and continues to accept the challenges of wartime, despite the enemy’s efforts to destroy, in particular, its grain industry, from seaports to elevators.

Since the start of the “Grain Initiative”, freight rates on the Danube have fluctuated at the level of €30 per ton.

Analysts have estimated that the export of corn from Ukraine in the 2022/23 marketing year will amount to 23 million tons.

In total, Ukrainian farmers received 31,000 sleeves for grain storage from FAO.

During the last week, freight rates from ports in Azov-Black Sea have decreased.