Loans @ 5%, Ukrainian IT BILLIONAIRES, Record Harvest
- In his address, President Volodymyr Zelensky announced a program to issue loans at 5%. “We will launch the Ukrainian Dream program, under which every citizen of our state who pays taxes honestly will be able to get a loan at a rate of 5% in hryvnia.” The loans will be granted for the purchase of real estate, electric cars, education or training to change your profession.
- Max Lytvyn and Alex Shevchenk, founders of Grammarly, Ukraine’s most valuable tech startup, have entered the billionaires list of Forbes Ukraine. Each is now worth at least $4 billion. This ranks them above: Victor Pinchuk — $2.5 billion; Kostyantyn Zhevago — $2.4 billion; and Ihor Kolomoisky –$1.8 billion. This is the first time that IT entrepreneurs have joined a club traditionally the preserve of Ukrainian titans of energy and metallurgy.
- After harvesting a record wheat harvest, Ukraine’s farmers now are enjoying record high export prices — $342/ton on Monday. This year’s harvest was up 30% yoy, to 33 million tons. Moving through the pipeline, exports already are up 22% yoy, to 14.5 million for the marketing year, which started July 1. Firming prices, Russia has retained export limits, prompting Middle Eastern nations to turn to Ukraine, reports S&P Global Platts.
- Through September, Ukraine’s food sales to Asia increased by 20%, hitting $10 billion. With Asia now the largest importer of Ukraine’s farm produce, the Institute expects another record export year, saying: “Demand for food in this region is growing very dynamically.” Top buyers are: China, India, Turkey, Indonesia, Saudi Arabia, Iran, Iraq, and Pakistan.
- Ukraine’s corn crop is on track to hit 40 million tons, one third higher than last year. Although a record 30 million tons of exports were forecast, exports are lagging at the pace of last year.
- After a record harvest, the next step for Ukraine’s corn farmers should be processing corn for fuel and animal feed, Agriculture Minister Roman Leshchenko says. “It will be gas, fuel and quality feed: starch, glucose, amino acids, and dozens of other items that will provide Ukraine with added value of tens of billions of dollars,” the Minister said. “This is the basis of the next stage of crop production.”
ed. – The unrealized hope of many commodity countries (myself being from Canada), if if if Ukraine really would begin processing agricultural products … that really would be something.