News
10 May 2018
KazAgro obtained a $380 million net loss in 2017
News -The Kazakhstan-based agroholding KazAgro made a net loss of 126.018 billion tenge ($383.2 million) in 2017. In 2016, the company earned a net profit of 18.552 billion tenge. The gross revenue of KazAgro dropped 3.6 times to 3.076 billion tenge, sales revenue decreased 1.8 times to 18.122 billion tenge. 2017 net expenses from operations in foreign currency amounted to 28.45 billion tenge compared to net income of 12.53 billion a year earlier. The company's assets decreased by 5.6% to 1.198 billion tenge, equity capital declined 1.5 times to 255.985 billion tenge. The company's liabilities increased by 6% to 942.143 billion tenge.
09 May 2018
31 million acres of U.S. farmland vanished in a decade
News -The American Farmland Trust (AFT) recently published a report on the loss of U.S. farmland. One of the report’s key findings is that almost 31 million acres of fertile farmland were lost within last 10 years. The main reason behind the disappearance of farmland is urbanization. Expanding urban areas accounted for 59% of the loss. Around any large city in the U.S. farmland is getting bulldozed to make room for commercial housing and businesses.
09 May 2018
Cygnet to increase its land area by 5.5 thousand hectares
News -The Ukraine-based Cygnet company received permission from the Antimonopoly Committee of Ukraine to acquire a farm of 5.5 thousand hectares in size, thus increasing the total area of Cygnet’s farmland operations up to 29 thousand hectares. Cygnet was founded in 2011. The company operates in Zhytomyr and Vinnitsa regions, where it grows corn, soybeans, wheat, and sugar beet. It also has a dairy farm of about 700 cows.
08 May 2018
Adecoagro's takeover of SanCor uncertain
News -Adecoagro, an agricultural company engaged in crop farming, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America, has not yet sealed the take-over deal with SanCor. It turned out that SanCor, one of the leading dairy producers in Argentina, has a debt of $10.5 million and is looking for ways to restructure it. In addition, it is unknown how it will pay back its $2 million loan to Administración Federal de Ingresos Públicos (AFIP, engl. Federal Administration of Public Revenue). Adecoagro still estimates the risks before buying the firm.
08 May 2018
Goodvalley Ukraine will build a meat-processing plant in Ivano-Frankivsk
News -Goodvalley Ukraine, a Ukrainian pig production company with 100% of Danish investment, plans to build a meat processing plant in Ivano-Frankivsk. The company and the Regional State Administration signed a memorandum, according to which the company will assist in the development of the infrastructure of residential areas adjacent to the future plant territory. The construction of a modern production complex will create new jobs, increase revenues from paying taxes to local budgets, and contribute to the improvement of the investment profile of the region.
07 May 2018
UGMK-Agro to build a goat farm for 3 billion rubles
News -UGMK-Agro plans to build the largest goat farm in Europe for 12,000 dairy goats in the Sverdlovsk region of Russia by 2021. The company purchased 8.2 thousand hectares for the farm in the village of Pokrovskoye, Artemovsky district of the Sverdlovsk region. The farm's production capacity will be 18.2 thousand tonnes of milk per year. The total investment is expected at the level of 3 billion rubles.
07 May 2018
Miratorg to recover abandoned land
News -Miratorg plans to include about 800 hectares of earlier abandoned lands to its agricultural operations located in the Kursk region in 2018. Within the framework of the project on doubling its pig-breeding business, the company continues to increase the area under forages. In 2015-2017, Miratorg returned more than 2,300 hectares of fallow lands to agricultural rotation in the Kursk region.
07 May 2018
UGMK-Agro builds a new greenhouse
News -UGMK-Agro, a daughter agroholding of Ural Mining and Metallurgical Company, plans to launch a new greenhouse in the fall of 2018. The greenhouse area for cucumbers in Verkhnyaya Pyshma, a suburb of Yekaterinburg, will amount to 6.8 hectares, thus expanding the total greenhouse area of the company to 36.4 hectares. The expected productivity is estimated at 92 kg of vegetables per square meter, which is 50 kg more than in older greenhouses of the company. UGMK-Agro’s products are marketed under the brand "Mr. Green"
07 May 2018
BrasilAgro's net profit up 11 times
News -BrasilAgro, a company focused on the development of agricultural land with operations in Brazil and Paraguay, reported consolidated earnings results for the third quarter and nine months ended March 31, 2018. It recorded a net profit of BRL 53.984 million ($ 14.7 million) in the third quarter of the 2017/18 crop year (January to March 2018), almost 12 times more than in the same period of 2017 (BRL 4.541 million ($1.2 million)). For nine months, the company's profit was BRL 85.621 million ($23.4 million) against BRL 6.183 million ($1.6 million) a year ago.
04 May 2018
Niva Pereyaslavshchiny on loan from IFC
News -Niva Pereyaslavshchiny group of companies received a $12.5 million loan from the International Finance Corporation (IFC). The IFC approved the loan on April 25th. the respective agreement is going to be signed in the upcoming days. It is a long-term corporate loan provided to finance the program of the company's capital expansion for 2018-2019. The total sum of the project is estimated at $35 million. Specialized mainly in pork production, Niva Pereyaslavschiny operates over 23,000 hectares of farmland and exports yearly about 100,000 tonnes of grain.