Agriculture

The Ukrainian Ministry of Agriculture released information on the progress of the harvest. As of July 25, 2008, agricultural companies harvested an overall 19,680.4 thsd mt of grain on 6.027 mln ha of land. The average yield amounted a 3.31 mt/ha.

The Kernel Group [KER PW, N/R] acquired an agricultural farm with 1.7 thsd ha of leased land in Central Ukraine.

Ukraine’s Ministry of Agriculture is seeking funds in order to create grain reserves. Yuriy Melnik, the Minister of Agriculture, stressed the dire need for grain procurements, so as to keep grain’s prices from falling on the domestic market.

The Deputy Head of the President’s Office in Ukraine has announced that Ukraine can export a total of 15 mln mt of grain in 2008/09, which implies a USD 4 bln (vs. USD 0.8 bln in 2006/07).

MCB Agricole [4GW1 GR, N/R], a holding company for the Ukrainian agricultural company Ukrzernoprom, is planning to increase its net revenues by USD 40 mln to 56 mln, with its net income to grow by 3.5 times to USD 14 mln in 2008.

The Ukrainian Land Committee wants to increase lease rates for agricultural land from the current 1.5-2% to 6% of the land assessment in money terms, announced Mr. Voyevodin, the Head of the Land Committee.

Astarta [AST PW, BUY] has released the company’s development model for 2008-2012 at the Warsaw Stock Exchange on June 25, 2008.

Ukrsugar, the Ukrainian association of sugar producers, estimates the minimum sugar price at USD 0.82 due to the substantial cost increases of its production.

Trigon Agri [TAGR SS, N/R], a Dutch agricultural company, expanded its land bank to 129.5 thsd ha in Ukraine and Russia.

Astarta Holding [AST PW, BUY], a vertically-integrated agro holding, is proposing to not pay dividends, but to reinvest all its net income of USD 33.31 mln.