Agriculture

Agriculture
March 16, 2010Sintal launches elevator construction

Sintal Agriculture [SNPS GR, U/R] a major grain producer in Ukraine has announced a launch of construction works on its grain elevator in Kharkiv region. Preparatory works related to the laying of the foundation has been completed, while the elevator equipment will be delivered in April by US-based Global Industries Inc. The elevator with 115 thsd tonnes capacity should be constructed by the end of 2010, while the first line of 50 thsd tonnes is expected by August 2010.

Agriculture
March 16, 2010Kernel to finish construction of Bandurka OEP in 2010

Kernel Group [KER PW, HOLD] has announced its plans to finish construction of Bandurka multi-seed oil extracting plant (OEP) in 2010. The daily processing capacity of the plant is 1.5 thsd tonnes of sunflower seed, 1.1 thsd tonnes of soybean and 0.9 thsd tonnes of rapeseed. The modern equipment installed should enable the Company to produce sunoil and cake of a highest quality in line with international standards. Firstly scheduled for construction by the end of 2009 the project was delayed to 2010.

Agriculture
March 15, 2010Astarta to boost sugar output by 42% to 320 thsd tonnes

The Astarta Holding [AST PW, BUY], a major sugar and grain producer in Ukraine, has announced its plans to increase sugar output in 2010 by 42% to 320 thsd tonnes, compared to 225 thsd tonnes in the 2009/2010 season.

Agriculture
March 15, 2010Ukraine faces risk that 13% of winter crops may be lost

The Ukrainian Weather Center (Ukrhidrometcentr) has forecasted losses amounting to 13% of winter crops due to unfavorable weather conditions. It also stated that, on average, the annual loss of winter crops is at 9-10% in Ukraine.

Agriculture
March 12, 2010MCB Agricole starts spring field work

MCB Agricole / Ukrzernoprom Agro [4GW1 GR, U/R] has announced the start of spring field works, including the fertilizing of winter crops and sowing of spring crops. The Company is fully supplied with the required fertilizers, seeds and plant protection material.

Agriculture
March 10, 2010Ukrros to post minor profit for 2009: POSITIVE

The Ukrros Sugar Union [UROS UZ, BUY], a major agro-holding with a focus on sugar production, finished 2009 with a net profit of USD 0.02 mln, compared to a net loss of USD 18.6 mln in 2008. In 2009, the assets of the Holding increased by 17.6% to UAH 549.6 mln. The financial results of the Group are to be approved during its AGM on April 23, 2010.

Agriculture
March 9, 2010Ukrainian importers claim 100% quotas for raw cane sugar

As of March 5, importers’ claims for raw cane sugar imports to Ukraine reached the 87% mark of the quota set by the World Trade Organization. The quota level for 2010 is 267.8 thsd tonnes. The largest share of the total import volume will come from Brazil (73.6%). The claims were filed by Ukraine’s major sugar producers; namely by Astarta [AST PW, BUY], the Ukrros sugar union [UROS UZ, BUY], Ukrprominvest, Rise, and the Dakor Agro Holding.

Agriculture
March 5, 2010Astarta’s EBITDA up 62% to USD 69.4 mln: POSITIVE

The Astarta agro-holding [AST PW, BUY], a major Ukrainian sugar producer, has released its preliminary consolidated 2009 financial results. Its consolidated revenue grew 40% YoY to UAH 1 358 mln (down 8% in USD terms to USD 170 mln). Its gross profit increased 75% to UAH 443 mln, while its gross margin was 33% vs. 26% in 2008. Its EBITDA was up 148% to UAH 555 mln (in USD terms, EBITDA rose 62% to USD 69.4 mln). The EBITDA margin constituted 41% vs. 23% in 2008.

Agriculture
March 4, 2010Ukrros to increase sugar output 31.5% in 2010: POSITIVE

The Ukrros sugar union [UROS UZ, BUY], a major agroholding with a focust on sugar production, has announced plans to increase beet sugar production in the 2010/11 season by 31.5% from 130 thsd tonnes to 171 thsd tonnes this season. In comparison, in the 2008/09 season, Ukrros produced 199 thsd tonnes of beet sugar.

Agriculture
March 4, 2010Agrogeneration raises EUR 12.6m in Euronext placement

The French agricultural group AgroGeneration [ALAGR GR, N/R], a producer of crops and oilseeds in Ukraine, has held a private placement for a 25% stake on the NYSE Euronext platform, through which it generated EUR 12.6m. The shares were valued at EUR 1.80, which corresponds to a MCap of EUR 47.6.

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