Agriculture

Agriculture
August 12, 2010Interim grain harvest reached 28 mln tonnes

Agricultural companies of Ukraine harvested slightly more than 28 mln tonnes of grain and leguminous crops as of August 11, with an average yield of 2.49 tonne per ha. Agricultural companies processed a sowing area of only 11.3 mln ha.

Agriculture
July 22, 2010Landcome plans to post positive EBITDA in FY2010

According to Landcome’s [LKI LN] press release, the Company plans to emerge from the red in terms of EBITDA in FY2010 (November to October). This should happen due to cost control and generally improved market conditions. For example, the Company managed to decrease costs per hectare by 35%, while price for rape increased by 17% on average as compared to 2009.

Agriculture
July 19, 2010Ukraine harvested 8 mln tons of grain by July 16

As of July 16, Ukrainian farmers had harvested 8.1 mln tons of grain from an area of 3.35 mln ha. Thus, the average grain yield was 2.4 tons/ha, compared to 2.6 tons/ha in 2009. In detail, the average barley yield was 2.3 tons/ha (2.7 tons/ha in 2009), wheat – 2.7 tons/ha (2.8 tons/ha). Additionally, 0.84 tons of rapeseed were harvested from an area of 0.53 mln ha, with an average yield of 1.6 tons/ha (1.8 tons/ha).

Agriculture
July 16, 2010MHP 2Q2010: meat processing +36% YoY; attracts USD 50 mln

Myronivsky Hliboproduct (MHP) [MHPC LI, HOLD], a major poultry producer in the Ukraine, has announced its 2Q2010 operational results. Poultry production grew slightly, at +3% QoQ, to 85.5 thsd tons (+30% YoY), and the capacity utilization for the segment was almost at 100%. The average chicken meat price remained flat YoY, at UAH 13.8 per kg. Sunflower oil production was almost flat QoQ and constituted 47.5 thsd tons, while the export price achieved was USD 809 per ton, or in line with the market price.

Agriculture
July 15, 2010Sintal increases irrigated area by 50% to 30 thsd ha in 2010

Sintal Agriculture [SNPS GR, BUY], a major Ukrainian crop producer, plans to increase irrigated areas by 50% YoY in 2010. Currently, the total land bank of the holding is 98.7 thsd ha, while the irrigated area located in Kherson region is 20 thsd ha. Sintal intends to increase its total land bank by 20% to 120 thsd ha in 2010, and is going to increase the irrigated area by 10 thsd ha annually.

Agriculture
July 13, 2010Astarta gets EUR 10 mln loan from EBRD

The European bank of Reconstruction and Development (EBRD) has provided a EUR 10 mln loan to Astarta [AST PW, BUY], a major Ukrainian agro-based holding with an emphasis on sugar production. The loan agreement was signed on July 7. The loan maturity is seven years, while the grace period is eighteen months. The focus is on sugar mills modernization—particularly a decrease in gas consumption—and on elevator construction.

Agriculture
July 8, 2010Astarta increased number of cows by 10% to 11 thsd heads

On July 6, Astarta [AST PW, BUY], a major Ukrainian agro holding with an accent on sugar production, has launched a new milky farm with 1 thsd cows. After the launch of the farm the total number of milky cows of the Holding has increased by 10% to 11 thsd cows.

Agriculture
July 2, 2010MHP permitted to Export to Russia; Acquires two Agro Companies

Beginning on July 01, 2010 Russia has lifted restrictions for imports of livestock production (particularly poultry) from a variety of Ukrainian livestock producers. This permission specifically affects Myronivsky Hliboproduct (MHP) [MHPC LI, HOLD], a major Ukrainian poultry producer. With this move Russia re-opens its livestock import market after an almost five-year ban.

Agriculture
July 1, 2010MHP plans SPO in 2011

Myronivsky Hliboproduct (MHP) [MHPC LI, HOLD], a major Ukrainian poultry producer, has announced that it is considering the opportunity for a secondary public offering (SPO) in 2011. Management considers that this may improve the stock’s liquidity; however, the holding doesn’t reveal any exact plans concerning the volume, date or the SPO type.

Agriculture
June 29, 2010Kernel has no obligations towards Corolex’ minorities

Kernel Holding [KER PW, HOLD], a major Ukrainian sunflower oil and grain exporter, has announced that it has no obligations towards the acquisition from Cross Trade Financial Ltd of 6 % minority interest in Corolex Public Co Ltd (former Alseeds). Such a clarification was provided in response to erroneous information disseminated by news agencies. Currently Kernel controls 94% in Corolex and has scheduled its EGM for August 10, 2010. One of the issues on the agenda is a disposal of Company’s key assets.

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