Kernel, one of the largest Ukraine’s agroholdings and the world’s leading producer of sunflower oil, reported a net profit of $ 75.5 million in the first quarter of 2018/2019 fiscal year (FY), a more than 3 times increase compared to the same period last year. The company’s revenue has doubled and equals $ 1.14 billion.

EBITDA rose 2.2 times to a...

Rusagro, one of the largest Russian agroholdings operating 675,000 hectares, acquired 80% of the debt of an oil producer Solnechnye Produkty , an agricultural subsidiary of Bouquet Group.  The value of the transaction amounted to RUB 34.7 billion ($ 520 million). The purchased debt is collateralized by the company’s major assets.

The acquisition...

Prodimex, Russia’s largest landowner and leading sugar producer, intends to close its dairy farms for 4,500 cows in the Voronezh region of Russia. In addition, Prodimex will launch three innovative dairy farms for 8,400 cows in cooperation with Russia’s largest milk producer EkoNiva. One of the farms is to be launched in the upcoming days, while...

Rusmolco, a Russian agroholding, affiliated with Singapore’s Olam International, started producing crop seeds. The company has already invested over RUB 300 million ($ 4.5 million) in the seed plant in the Penza region of Russia. Currently, the production capacity of the plant is 10 tonnes per hour and is expected to reach 25,000 tonnes per year....

Promagro holding, a vertically integrated agroholding engaged in crop and pork production, intends to allocate 5,000 hectares in the Smolensk region of Russia for flax cultivation. According to the company, up to 40% out of this farmland area has been abandoned for about 20 years. The process of farmland reintegration is expected to be completed in...

Steppe agroholding, one of the largest agroholdings in Russia and a subsidiary of the AFK Sistema corporation, bought out all assets of RostZernoTrans Group – 6 enterprises including grain elevators and a port terminal on the Don river. The total storage capacity of the purchased elevators equals 400,000 tonnes and the daily capacity of the...

The Argentina-based dairy cooperative SanCor closed its factory in Bahía Blanca and dismissed its personnel in the amount of 40 people. Besides, SanCor announced the decision to close all its logistics centers in the country due to the economic crisis the company is facing at the moment. In the last 2 years, Sancor reduced the number of its staff...

The Brazilian meat producer Frimesa postpones the launch of Brazil’s largest plant for pork-based products in Assis Chateaubriand. As reported by the company, the main factors behind the delay are the reduced inner market demand for meat, the sprawling bureaucracy and the political, economic and administrative instability in Brazil.

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