Moldova: forecast of sunflower seed harvest down

In 2016 Moldova will decrease the harvest of sunflower seed by 30-40% compared with the previously expected indices, due to weather conditions, the Ministry of Agriculture and Food Industry of Moldova declared. Agrarians noted that the oilseed yield dropped below 2 tons/ha, while the previously expected level totaled 3.5 tons/ha. July drought and heat became…

Kazakhstan: oilseed planted area up

In Kazakhstan oilseeds planted area for 2016/2017 crop increased to 2118 thousand ha compared to 2101 thousand ha last year.

Planted area approached the 2014/20015 season’s level, when the acreage reached all-time high at 2413 thousand ha. Despite rains, weather conditions allowed farmers to conduct seeding within optimum time. (UkrAgroConsult/Business World Magazine)

Iran: NIOC signs oil contract with Lukoil

National Iranian Oil Company (NIOC) has signed oil contracts with a range of companies, including Russian oil producer Lukoil.

Other companies included OMV, Total and Pertamina.

Earlier in August, Russian ambassador to Iran Levan Dzhagaryan said Lukoil was considering development of two deposits near the Iranian city of Ihvaz. (Prime/Business World Magazine)

Belarus: IFRS to make corporate sector more transparent

Belarus’ move to adopt International Financial Reporting Standards (IFRS) and clarifications on January 1, 2017 will contribute to increasing the transparency of Belarus’ corporate sector for investors and creditors, Pavel Laschenko, EY Belarus Managing Partner, believes. The IFRS standards will acquire the same legal status as guidelines and provisions of the Finance Ministry of Belarus…

Ukraine: sale of Turboatom, Electrotyazhmash, State Food and Grain Corporation in 2017 approved

The government’s committee for economic, financial and legal policy has approved of a list of enterprises to be privatized in 2016-2017, among them are Turboatom, Electrotyazhmash, the United Mining and Chemical Company, the State Food and Grain Corporation, and a state stake in Zaporozhye Titanium and Magnesium Combine LLC. A respective draft resolution was approved…

Belarus: Gomselmash deliveries to Ukraine up in 2016

Since the start of the year the Belarusian mechanical engineering company Gomselmash has delivered 150 grain and forage harvesters to Ukraine, up by 50 vehicles YoY, the First Deputy Director of the company’s regional sales department Igor Korotkevich reported. The exports mainly consisted of grain harvesters, including KZS-1218, KZS-812 that have already made a good…

Belarus to take part in EU4Energy program

Belarus will take part in the EU’s new program of technical support for the countries of the Eastern Partnership EU4Energy, the press service of the Energy Ministry reported. “Last week the Energy Ministry played host to a meeting between Director of the Energy Community Secretariat Janez Kopac and expert on renewable energy and energy efficiency,…

Ukraine: spirits output down

Industrial processing of grain in Ukraine has demonstrated a downward trend over the last three years. Production of basic processed products has declined on average by 20% compared with 2013. For instance, beer production has fallen by 29%, vodka – by 43%, malt – by 19%. Only compound fodder production, which has decreased by only…

Ukraine: sunflower conditions remain good

Last week the weather was warm with lack of precipitations. Heavy rains were observed only in Kharkov, Zhitomir, Kiev and Dniepropetrovsk regions with lightning. Average daily temperature fluctuated within 18.2-29.4 C and was 1-7 C higher than the norm. Maximum air temperature in the warmest days increased in the South to + 38 C and…

Russia: Inter RAO IFRS EBITDA guidance up in 2016

Russian power holding Inter RAO has raised the forecast for earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2016 to 85 billion rubles from 79-80 billion rubles, Dmitry Palunin, a member of the management board, said. The forecast is under International Financial Reporting Standards (IFRS). In May, Inter RAO already raised its EBITDA outlook…

Ukraine: quality of grains meeting importers requirements

Qualitative characteristics of Ukrainian grains supplied to foreign markets completely meet the international standards, the Head of the State Service on Food Safety and Consumers Protection Volodymyr Lapa said. According to him, the export trading continues developing, and Ukrainian grain products are in demand on the global market. Therefore, Ukrainian grains have the required qualitative…