Stock Groups

Nestle reopens factories, warehouses in central and west Ukraine -Breaking


© Reuters. FILE PHOTO – A logo was pictured at the 152nd Annual General meeting of Nestle, Lausanne (Switzerland), April 11, 2019. REUTERS/Denis Balibouse

By Maytaal Angel

LONDON, (Reuters) – Nestle, world’s biggest food retailer, has reopened its warehouses and factories located in central and west Ukraine, in a bid for essential food, drink, and beverage deliveries to the country.

Following the Russian invasion of Ukraine on Thursday last week, three Ukrainian factories were closed by the Swiss-based firm. It employs around 5,000 people in Ukraine.

We are working to open up parts of our supply chain to distribute to retail outlets where safe. A Nestle spokesperson said that the latest information was only partially possible.

After the Russian invasion of Ukraine, Ukraine shut down its ports on Thursday. This has led to fears that the country may face shortages in food due to the inability to import products.

Nestle, the maker of Nescafe, Kit Kat and other iconic food products, stated that while the majority of its products in Ukraine are made locally, certain raw materials, such as coffee and cocoa are imported.

A trader from one of the largest commodities trade houses in the world told Reuters that he has to turn around all his coffee going to Ukraine because no shipping companies are available to ship goods to Ukraine.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.