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IMC agricultural holding completes harvesting corn, threshing 532,000 tonnes

KYIV. March 6 (Interfax-Ukraine) – IMC agro holding finished the harvesting of 2022 corn with an indicator of 532,000 tonnes, which is 0.6% less than in 2021.

According to a report by the group of companies on the Warsaw Stock Exchange, for the first time during its existence, it was necessary to transfer the harvest for the next 2023.

“For the first time, we had to go into calendar spring with uncleaned corn. However, there are objective reasons for this. First of all, these are adverse weather conditions in the fall, which detained the beginning of seasonal field work for almost a month. An important and well -known reason also became problems with the transportation of grain for export, caused by the military aggression of the Russian Federation against Ukraine,” the holding quoted its operating director Oleksandr Verzhykhovsky.

It is clarified that 532,000 tonnes of corn are collected from a total area of 50,200 hectares with a yield of 10.6 tonnes/ha, which was the second best result in the history of the holding.

As reported, in 2021, IMC sold 536,100 tonnes of corn (down 12.2% compared to 2020), wheat-117,970 tonnes (down 0.1%), sunflower – 85,820 tonnes (down 1.2%).

IMC specializes in the cultivation of cereals, oilseeds and the production of milk in Ukraine. It processes about 123,300 hectares of land in Poltava, Chernihiv and Sumy regions. It owns the capacities of storage of 554,000 tonnes of grain and oilseed crops.

According to the results of 2021, the holding increased net profit by 2.5 times compared to 2020 – to $78.71 million, the EBITDA indicator – by 53%, to $110.35 million, revenue by 12.6%, to $181.69 million.