Russia: Medvedev to postpone Bashneft privatization

Russian Prime Minister Dmitry Medvedev has decided to postpone privatization of the oil company Bashneft, and the decision was supported by the president Vladimir Putin, Medvedev’s press secretary Natalya Timakova reported. “Yes, the Prime Minister made a decision and the president approved of it – to delay privatization of Bashneft”, Timakova said. The Federal State…

Russia: inflation at zero in August 2016

Russian consumer prices remained flat from August 9 through August 15, after two weeks of a 0.1% contraction, while inflation since January 1, stood at 3.8%, the Federal State Statistics Service said. In August 2015, prices grew by 0.4% MoM and 9.8% since January 1, 2015. Prices for fruit and vegetables fell by 3.4% on…

Russia: barley exports down in June 2016

In June Russia exported the minimum monthly amount of barley over the last few years – 12 KMT. In 2015/2016 Russian barley exports dropped by 20% to 4244 KMT compared to record high result of 2014/2015. Exports decreased in all the key destinations except for Tunisia and Kuwait, where export volumes rose to 73% and…

Russia: milling wheat prices up

Upward trend in wheat prices continues in Russian market. During last week milling wheat (12.5%) prices in Novorossiysk and Azov ports increased by $3-4 to $170-174/MT FOB and $150-154/MT FOB respectively for August and September delivery. Export prices for high protein wheat are still supported by lower supply, both on the global and domestic Russian…

Ukraine: UIA commences SMS notification service testing

UIA started testing SMS notification service informing passengers of all scheduled flights on any delays and cancellations. Therefore, the airline clients will be notified of important schedule alterations. Within 48 – 1 hour prior to scheduled departure, passengers who have provided UIA with correct contact details when booking their tickets may receive a notification on…

Ukraine: selling prices of agricultural products up

In January-July the average selling prices of agricultural enterprises for agricultural products increased by 7.9% YoY, the press-service of the State Statistics Service of Ukraine declared. In particular, the average prices for plant growing commodities grew by 19%, and the prices for livestock commodities – by 0.3%. In July the average selling prices for agricultural…

Ukraine to reach record grain exports

The estimated volume of Ukrainian grain exports in the new marketing year can break the record of the previous year and reach about 41 million tons. President of the Ukrainian Grain Association Volodymyr Klymenko said this at a briefing. “The overall grain production is 63.5 million tons now. 41 million tons will be exported. We…

Ukraine: 37.7 MMT of grain harvested

As of August 15, early grains and pulses were harvested from 9590 thousand ha (99% of the intended area) compared with 10105 thousand ha on August 14, 2015. Farmers obtained 37.756 MMT with average yields at 3.94 MT/ha (36.501 MMT with average productivity at 3.61 MT/ha). Wheat was harvested from 6160 thousand ha – 99%…

Ukraine opens new market for sunflower oil

On August 5, authorized representatives of Ukraine and Indonesia signed a memorandum on cooperation between the agricultural ministries of the two countries. At this stage, a free trade zone is being discussed. Mutual interest in cooperation is expected to trigger increase in export-import flows of crop products. In this segment Asian countries are traditionally considered…

Ukraine: Zorya-Mashproekt activities in H1 2016

In the first half of this year Zorya-Mashproekt released and sold turbines from the entire product range: marine propulsion installations, gas pumping units, and gas turbine generators. The installations for marine application have become the key segment of Zorya-Mashproekt’s production. Navy turbine share is over 80% of the total sales volume. As before, the largest…

Ukraine: NBU registers iBox Money Transfer

On August 4, the National Bank of Ukraine registered the iBox Money Transfer international remittance system, the payment organization of which is PJSC iBox Bank (formerly Agrocombank, Kyiv). Participants in the payment system are OJSC Zaminbank (Azerbaijan) and PJSC Artem-Bank (Kyiv). According to the NBU, taking into account iBox Money Transfer, currently eight payment systems,…

Ukraine: NBU registers Sigue Money Transfer

On August 15, the National Bank of Ukraine (NBU) registered the Sigue Money Transfer international system, the payment organization of which is Cel.Int Ltd (UK). Participants in the payment system are PrivatBank, Oschadbank, and Unex Bank. According to the NBU, taking into account Sigue Money Transfer, currently ten payment systems are registered, the payment institutions…

Russia: freight rates remain unchanged in Azov basin

According to Rufco Company, grain freight rates remained steady in the Azov Sea basin. Trading activity declined slightly, grain exports did not meet expectations of shipowners, first of all regarding shipments to Turkey. Supply of free “river-sea” fleet exceeded demand in spot market. In the Caspian Sea grain freight rates continued to strengthen. Shipments of…