Page 41 - UKRRptApr24

2021. The grain deal ended on July 17, 2023. Russian President Vladimir Putin repeatedly pointed out that the West exported the lion's share of Ukrainian grain to their states, while the main goal of the deal was to ship grain to countries in need, which was not done.
Ukraine's goods turnover at the beginning of the year increased by 2%.
Ukraine's merchandise turnover reached $16.8B in the first two months of the year, 2% more than in the first two months of last year, reported the State Customs Service. During January-February 2024, Ukraine imported goods worth $10B and exported $6.8B. Taxed imports amounted to $8.8B, 88% of the total volume of imported goods. Ukraine imported the most goods from China ($2B), Poland ($1.1B) and Germany ($769M). Ukraine exported the most to Poland ($649M), followed by Spain ($624M) and China ($504M). In the total volume of goods imported in January-February, the following categories accounted for two-thirds: machinery, equipment, and transport ($3.5B); chemical industry products ($1.8B); fuel and energy products ($1.3B). The most exported items from Ukraine were food ($4.5B), metals and their products ($726M), and mineral products ($587M).
The victory over the Russian fleet has helped to overcome the collapse of grain exports by sea. Since August, Ukraine has launched a series of attacks on Russian military ships and naval facilities, destroying a fifth of the Russian Black Sea Fleet. This allowed Ukraine to close the Russian navy's access to the Black Sea and increase the export of grain from the main ports in Odesa almost to pre-war levels. Currently, grain and iron ore are the main exports, but container exports are planned to be launched soon. In addition, insurance provided by the Ukrainian government and international companies became a key export component, without which few commercial ships would dare to anchor in Ukrainian ports. The cargo turnover at Odesa ports in February amounted to eight million tons, of which 5.2 million tons were products of Ukrainian farmers. Therefore, the inflow of cash makes it possible to invest and put money into new projects to replace products from the territories in the south of Ukraine that were occupied by the Russian Federation.
● Partners & regions
The EU has agreed on new terms for Ukraine’s trade benefits. Ambassadors from the EU member states reached a compromise on the issue of extending the preferential trade regime with Ukraine for another year on March 28.
The agreement provides that the base period that will be considered for activating the protective mechanism will be extended to include the second half of 2021 (previously, average volumes for 2022-2023 were considered).
The latest proposal does not include potential restrictions on wheat despite demands from France, Poland, and Hungary. Some countries have also demanded that the EU use its executive power to guarantee products such as corn, poultry, sugar, and eggs will be restricted if imports exceed previous levels.
A new compromise decision will be submitted to the European Parliament for consideration. If approved, Kyiv will retain almost unhindered access to the EU market after June 5. Meanwhile, Moldova has extended the licensing regime for another three months to import three Ukrainian crops - wheat, corn, and sunflower seeds.
41 UKRAINE Country Report April 2024 www.intellinews.com