Daily monitor

Myronivsky Khliboprodukt [MHPC LI, BUY] announced its operational results for 1H09 in a press release today. MHP successfully launched the second phase of the Myronivka Poultry Plant in 2Q09. The company’s annual chicken meat production capacity will reach more than 200 thsd mt. MHP’s poultry volumey increased by 6% YoY to 116.3 thsd mt of meat in 1H09.

According to the newspaper “Delo”, the top five Ukrainian grain traders are as follows: Nibulon (exported 4 mln mt of gain); Louis Dreyfus and Serna (Glencore), which exported 2 mln mt of grain each; Toepfer, Bunge and Kernel exported 1.5 mln mt each.

The recapitalization process at Ukrgazbank [UGZB UZ, U/R] has finished, the bank is once again fully repaying deposits and it has cancelled all limits on credit card payment operations. According to a bank statement, UGZB had previously been repaying only those deposits with amounts less than UAH 30 thsd.

According to a note from the State Statistics Committee, the merchandise balance dropped 74.9% YoY to USD 2.2 bln in Jan-May 2009. Merchandise exports in Jan-May fell 44.1% to USD 14.4 bln while merchandise imports fell 52.0% to USD 16.6 bln. Compared to Jan-Apr, merchandise exports in Jan-May grew 25.6% while imports grew 24.0%.

The head of the IMF mission to Ukraine Ms. Ceyla Pazarbasioglu has announced that the Ukrainian government and the IMF mission have reached a preliminary agreement to provide with the third tranche of the stand-by emergency loan.

According to an announcement from the IMF, the Fund has reviewed its macroeconomic forecasts for Ukraine.

NCRC forbids using zero tariffs for mobile operators: NEUTRAL.

As of July 7, Ukraine harvested 17.6 mln ha or 13.6% of its expected crop. The crop yield averaged 2.5 mt per ha. Ukrainian farmers harvested 1.2 mln mt of wheat (yielded at 2.51 mt per ha), 3.1 mln mt of barley (yielded at 2.6 mt per ha), and 0.24 mln mt of rapeseeds (yielded at 1.3 mt per ha).

Ukrsibbank has paid off a USD 75 mln loan taken from a pool of Middle East and Asia Pacific banks. In a news item on its web site, the bank emphasized the fact that the remaining public debt for 2009 amounts to only USD 80 mln, which is not expected to become a problem for the bank to repay.

Kommersant-Ukraine reported that one of the two strategic shareholders of Zaporizhstal [ZPST UZ, U/R], the so-called Zakhid-Reserv Group, aims to consolidate 96.6% of the company. Reportedly, Zakhid-Reserv will buy out the Midland Group’s stake using a Swiss company named Airol Beteiligungen AG, which has recently obtained a permission to consolidate more than 50% of Zaporizhstal.