Consumer goods

Last week at its AGM, Slavutych [SLAV UZ, BUY] shareholders approved an additional issue of 96 mln shares at a par value of USD 0.14.

Myronivskyi Khliboprodukt [MHPC LI, U/R], a vertically integrated company consisting of 20 enterprises, is one of the biggest companies in terms of land bank under lease.

Fitch, an international rating agency, downgraded the Myronivskiy Khliboprodukt [MHPC LI, U/R] bond’s rating B in foreign currency from stable to negative. According to an official press release made by Fitch yesterday, the downgrading occurred as a result of the narrow focus of the company on the Ukrainian poultry market, coupled with possible problems with expansion plans for 2009.

Fitch, an international rating agency, downgraded the Myronivskiy Khliboprodukt [MHPC LI, U/R] bond’s rating B in foreign currency from stable to negative.

The European Commission has acknowledged the compliance of Ukraine’s sunflower oil to European standards.

The Zhydachiv Pulp and Paper Plant [ZCPK UZ, N/R] – the monopoly producer of newsprint in Ukraine, and located in the Lviv Region – recorded a 19.8% increase in production (to UAH 387.561 mln) YoY for the period January-October 2008. These figures were released by the plant’s owner Osnova-Papir.

The Kyiv Cardboard Paper Mill [KIKP UZ, N/R] in Obukhiv (Kyiv Region) – Ukraine`s leading pulp and paper producer – has released results for the first ten months of 2008. From January to October 2008, the company increased production by 38% YoY (to UAH 930.08 mln), according to Interfax-Ukraine.

According to a press release made by the State Statistics Committee of Ukraine, milk production in October has decreased 11.2% to 962.7 thsd mt. Moreover, in the last ten months, milk output has declined 3.9% YoY to 10.3 mln mt.

InBev, one of the leading global beer producers – second in terms of beer output in Russia and first on the Ukrainian beer market – issued an official press release on its financial results for 3Q08. Its revenues in volume terms declined 10.5% on the Russian market and 8.5% on the Ukrainian market.

Domestic wheat prices in Ukraine are following the global downgrading trend, reaching USD 136.8 per mt of industrial wheat (-53% MoM). As for coarse grain, prices began their downfall much earlier and have reached their lowest marks in three years. Prices for fodder wheat slipped to USD 105.3 (-12% MoM), while corn ended up at USD 87.7 (-33% MoM).