World Grain - January 2023 - 26

of our workforce, nearly 2,500 employees,
have been unable to work
because of the war. Maintaining
employee safety as well as salaries
has been a top priority for me.
WG: What measures have you
taken to protect your employees
from the war?
Mr. Vadatursky: One of the best
things I can do to protect our emNibulon
owns
a welldeveloped
network
of
elevators
and river
transshipment
terminals with
the capacity
to store more
than 2.25
million tonnes
of grain.
gistics. The deal has allowed Ukraine to ship over 10.5
million tonnes of grain and reduce food prices worldwide.
It has also helped Ukrainian farms remain viable
in extremely challenging conditions. However, the deal
does not include the ports of Mykolaiv, which are among
the largest in Ukraine and shipped 35% of our food exports
prior to the war. Without access to these ports, exporters
must use alternative routes that are much slower
and, in some cases, 10 to 40 times more expensive. It
needs to include Mykolaiv ports to ensure stable exports
and global food security. The grain corridor also
needs to be much more transparent so that it operates
efficiently and fairly. There are also too many mandatory
inspections and a shortage of personnel that has
led to costly delays. As a major trader and agricultural
producer, Nibulon supported the extension of this temporary
agreement, but the terms must be significantly
improved. Of course, the best long-term solution for
Ukraine's agricultural sector and the global food supply
chain will be the free flow of trade, unencumbered by
wartime disruptions or delays. Furthermore, everyone is
talking about the grain corridor, but we should also be
talking about a " financial corridor " for Ukrainian grain
exporters and other hard currency earners. With no access
to international financial markets and prohibitive
borrowing rates inside Ukraine, grain exporters have
virtually no access to financing. This means limited or
no resources to prepare for the next agricultural season,
invest in strategic solutions to war-related disruptions,
or ensure companies' liquidity. Such a financial corridor
could employ different tools, from guarantees to concession
credit lines, and would provide exporters with the
resources needed for uninterrupted production and export
of food to ensure global food security and the resilience
of Ukraine's agricultural sector.
WG: What percentage of your workforce has been
impacted by the war (fighting, displaced etc.)?
Mr. Vadatursky: Every family in Ukraine has been
impacted by the war either directly experiencing the horrors
of occupation and air attacks on their homes, or indirectly
suffering from a lack of electricity, water and heat
caused by attacks on civilian infrastructure. Over 40%
26
ployees is to continue paying their salaries, which Nibulon
has prioritized despite the war challenges. They are working
in incredibly challenging circumstances. Investments
like Izmail have also provided new jobs in arguably safer
parts of the country. I have also recently made the decision
to move Nibulon's headquarters from Mykolaiv to Kyiv
to ensure a relatively safer environment for the team and
have given employees the flexibility to work remotely or
from abroad if they feel it's right for them. However, we
are under no illusions. The loss of three of our employees
in November from a Russian attack on our civil vessels
was devastating. I honor their memory as Nibulon employees
and as innocent civilians doing the job they loved.
WG: The world watches in awe at the Ukrainian
people's resolve to maintain their independence. Have
you sensed any weakening in that resolve as the war
has moved forward, or is it growing stronger?
Mr. Vadatursky: The Ukrainian people's resolve
grows stronger every day, and I am proud that Nibulon
has long been a symbol of Ukraine's resilience. My
mission is to ensure that Nibulon continues to be a
strong and healthy company for years to come - for
the benefit of Ukrainian society, our employees and the
farmers we serve. Our continued success will strengthen
Ukraine's economy and global food security. The
war will end eventually and when that day comes,
Nibulon will be ready to lead the way in Ukraine's reconstruction
and recovery.
WG: If your father was alive, what advice do you
think he would give you regarding the challenges you
and your company are facing?
Mr. Vadatursky: I believe my father would advise
Nibulon to persevere no matter how great the challenges
and disruptions we face. In his honor and with
his example in mind, I will do everything in my power
to steer Nibulon through this challenging period to ensure
that our company remains a key part of Ukraine's
economy and the global food supply chain.
We want to hear from you - Send comments and inquiries
to worldgrain@sosland.com. For reprints of WG articles,
email reprints@sosland.com.
January 2023 / World Grain / World-Grain.com
Photos courtesy of Nibulon
http://www.World-Grain.com
World Grain - January 2023

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