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04 June 2020

MHP shared Q1 2020 financial results

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MHP, a leading poultry producer in Ukraine, reported net loss of $174 million in Q1 2020, as compared to net profit of $33 million in Q1 2019. Meanwhile, revenue rose 2% to $443 million within the same period of time. 

In Q1 2020, MHP’s export revenue accounted for 54% of total revenue and comprised $237 million (Q1 2019: $268 million, 61% of...

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03 June 2020

Kernel posted $22 million of net loss in Q3 FY2020

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Kernel, one of Ukraine’s largest agroholdings and the world’s leading producer of sunflower oil, reported net loss of $22.19 million in Q3 FY2020, as compared to net profit of $15.94 million in Q3 FY2019. At the same time, revenue increased 30% to $1 billion, and EBITDA rose 88% to $104 million (Q3 FY2019: $ 55.32 million) in Q3 FY2020. 

As for...

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03 June 2020

Russia's top 25 companies produced 5.4 million tonnes of meat in 2019

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The latest ranking of Russian news agency Agroinvestor discloses the list of Russia's 25 largest meat producers in 2019. Having produced a total of 5.4 million tonnes of meat in carcass weight (an 8% increase as compared to 2018), these companies accounted for over 50% of national meat production in 2019. Cherkizovo tops the list with a result of...

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29 May 2020

Rusagro to abandon soybean processing

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Rusagro, a Russia-based agroholding, wants to sell its soybean processing plant Primorskaya Soya until 2021. The facility has been out of operation since late 2019. According to the report, the main obstacles to the operation of the enterprise were the high cost of raw materials, the low price of finished products, and reduction of demand due to...

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27 May 2020

Olzha Agro: sowing campaign completed 73%

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Olzha Agro, a Kazakhstan-based agroholding, has completed its sowing campaign 73%. Given the company’s daily sowing capacity of 20,000 hectares, it is expected to complete field activities on the remaining 143,000 hectares of farmland in the upcoming week. According to Aidarbek Khojanazarov, CEO at Olzha Agro, humid weather conditions have slightly...

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18 May 2020

Damate to produce ice cream

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Damate Group, one of the largest Russia-based agroholdings, acquired a 100%-stake in Penzaholod, Russia’s ice cream producer. The acquired company produces more than 30 types of ice cream under the Nashe brand, and exports it to Kazakhstan, Belarus, and Armenia. The company has a full production cycle including 12 production lines, waffle baking...

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15 May 2020

IMC announced plans for upcoming years

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After posting its financial results for 2019, the Ukraine-based agroholding IMC S.A. shared its production and investment plans for the nearest future. In particular, the company will invest $4.4 million in renewing its machinery park, and $0.5 million in renovation of its grain elevators in 2020. Also, IMC wants to reduce its debt from $47 million...

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14 May 2020

Steppe acquired another agricultural enterprise

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Steppe Agroholding, a Russia-based crop producer, has acquired an agricultural enterprise Vysotskoye in the Stavropol region. The enterprise is engaged in crop, dairy, and livestock production. The farmland area of the newly acquired enterprise reportedly equals 5,000 hectares. 

Back in early 2020, Steppe acquired the agricultural enterprise...

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13 May 2020

Ovostar Union to build egg factory in Latvia

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Ovostar Union, a vertically integrated Ukrainian egg producer, plans to construct an egg factory in Latvia in cooperation with Adven, an energy provider in the Nordic and Baltic countries. Ovostar’s subsidiary Gallusman has lately signed the respective partnership agreement with Adven. Construction works will start in 2021, based on the results of...

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12 May 2020

Cherkizovo raises its exports to China as COVID-19 restrictions ease

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Cherkizovo, a large-scale meat producer with operations in Russia, reports on the revival of its export volumes to China after a 30% reduction (as of February 2020) due to COVID-19 outbreak. In particular, chicken wings and feet are most preferred among Chinese consumers. In 2019, 28% of the company’s total meat exports in physical terms went to...

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