Ukrainian Bee boosts honey exports to EU owing to Raiffeisen Bank's financing
MOSCOW. Oct 31 (Interfax) - The Ukrainian honey producer Ukrainian Bee based in Izyaslav, Khmelnitsky region, ramped up the production, processing, and exports of organic honey by 30% in January-September 2023 year on year, Ukrainian media reported with reference to Raiffeisen Bank Ukraine.
The company has achieved this result owing to financing provided by Raiffeisen Bank in 2021-2023 to replenish its working capital and promote exports to Poland, Germany, and France.
"Owing to financing from Raiffeisen, the company has increased the size of its facilities to 6,000 from 4,000 square meters and its daily production capacity to 120 tonnes from 100 tonnes," Ukrainian Bee CEO Stanislav Pankovsky said, adding that this has helped boost organic honey exports to EU countries to 400-500 tonnes.
Ukrainian Bee regularly implements advanced technology and international quality control standards at all stages, the company says. Its own apiaries for 500 bee colonies and 80,000 bee colonies from apiaries cooperating with Ukrainian Bee are certified by Organic Standard Ukraine in line with the IACB standards and EU norms. These bees pollinate up to 30,000 hectares of organic farmlands and natural meadows.
Ukrainian Bee has been among the first 30 companies the bank awarded with its own Raif Green Leaf prize for substantial contribution to green economy development and Ukraine's reconstruction.
Registered in the Khmelnitsky region in 2014, Ukrainian Bee specializes in producing and processing honey, which it both sells domestically and exports under the brand name U'BEE. Its authorized capital is UAH 452,900. According to the YouControl website, its founders are Stanislav and Neonila Pankovsky.
Raiffeisen Bank was registered in Ukraine in 1992 and is currently the largest bank with foreign capital in Ukraine. Since October 2005, it has been part of Austria's Raiffeisen Bank International AG. As of March 31, 2023, 68.21% of the bank's stock was owned by Raiffeisen Bank International AG and 30% by the European Bank for Reconstruction and Development.
