Spring sowing campaign 2023 was completed and 78.5 thousand hectares were sown in five clusters, including 46.3 thousand hectares of corn and 32.2 thousand hectares of sunflower, the holding press-service reported.
“Due to rain and chilly March and April the spring sowing campaign in IMC started only on April 20. However, we managed to hold this sowing campaign in close to optimal time. This year the area under spring crops in the IMC is a bit less than traditionally, taking into account the almost twofold increase in winter wheat sowing in crop rotation 2023”, – the agricultural holding said.
According to the press-service the change of cropping pattern was dictated by military conditions. Corn sown area was reduced in favor of winter wheat, because corn requires more gas and electricity for drying. Thirty-three thousand hectares were set aside for winter wheat, 80% more than traditionally.
In a comment for the Warsaw Stock Exchange, Alex Lissitsa, president of IMC, said that the agricultural holding managed to fully provide itself with pesticides and fertilizers for this season. He called the main problem of the company the lack of personnel.
“This year the human factor is of particular importance. Part of our staff is mobilized and goes to the front. In terms of working in agriculture, we needed to prepare for this, in particular by training other people who could replace existing team members,” stressed Lissitsa.
Commenting on the extension of the Black Sea Grain Initiative, Lissitsa approved the move, but pointed to the impossibility of solving the problems of Ukrainian agricultural exports due to the capacity of this corridor.
“Only effective and normal work of the management bodies in the coordination center can restore proper shipment volumes,” he said and reminded that earlier Russian controllers did a lot to ensure that ships with Ukrainian grain passed through as little as possible.
IMC specializes in the cultivation of grain, oilseeds and milk production in Ukraine. It cultivates about 123,300 hectares of land in Poltava, Chernigov and Sumy regions. The company has a storage capacity of 554 thsd. tons of grains and oilseeds.
By the end of 2021, the holding increased its net profit by 2.5 times compared with 2020 – up to $78.71 million, EBITDA – by 53%, to $110.35 million, revenues – by 12.6%, to $181.69 million.
IMC is one of the 10 largest agricultural companies in Ukraine.
In May 2011, IMK’s shares were listed on the Warsaw Stock Exchange.
