UAC News

Rape oil production amounted to 63.8 KMT in August 2018/19. This was up 45.3% from the previous month and twice as much as in August 2017/18. As expected, the first two months of the new 2018/19 season witnessed a sharp rise in rapeseed crushing in Ukraine. So, total rape oil production by Ukrainian large and medium-sized crushers in July-August 2018 reached a record of some 108 KMT.

Ukraine needs foreign direct investment (FDI) to provide stable growth, and one of the fastest instruments for attracting at least $15-20 billion could be the offer of state-owned agricultural land estimated at 10 million hectares, Managing Partner of ICU Investment Group Makar Paseniuk has stated. “Land reform would be a huge driver for the further development of our country, as it can be done quickly and it will quickly attract FDI,” he said at the Ukrainian Financial Forum organized by ICU in Odesa.

According to current information of the State Statistics Service, sunseed stocks in Ukraine totaled 678.3 KMT as of August 1, 2018 that is down 7% from the same date last year (729.4 KMT). This included 426.9 KMT held on farms (down 43.9 KMT, or 11.5% from August 1, 2017) and 251.4 KMT at storage and processing facilities (down 95 KMT, or 27.4% on the year), reports UkrAgroConsult.

Key Highlights

Consolidated revenues stood at EUR 175 million (-30% y-o-y) on the correction of sugar price, decreased sales volumes and a volatile performance of the EUR to USD exchange rate. EBITDA corrected 37% to EUR 60 million and net income 49% EUR 37 million.