IMK Agroholding has finished reaping winter wheat from the area of 33.3 thousand hectares and threshed 236 thousand tons of grain with a record yield of 7.1 tons/ha, its press service reported on Facebook on Thursday.
“The area to threshing this year was more than 80% more than the traditional for our company area under winter crops, which was caused by changes in the crop rotation structure in favor of winter wedge instead of corn. Nevertheless, we managed to harvest the entire crop promptly and get an excellent result, despite last year’s prolonged sowing of winter wheat and the reduced amount of fertilizers used,” – said IMK’s Chief Operating Officer Alexander Verzhikhovsky, whose words are quoted in the message.
As reported, agricultural holding “IMK” specializes in the cultivation of cereals, oilseeds and milk production in Ukraine. It cultivates about 123.3 thousand hectares of land in Poltava, Chernihiv and Sumy regions. It owns storage facilities for 554 thousand tons of grain and oilseeds.
In January-March 2023, IMK posted a $4.10 mln net loss, which is 2.6 times less than in the same period of 2022 and largely due to higher logistics and distribution costs. Revenue increased 11% to $41.96 million, of which $35.03 million came from exports. Gross profit increased 3.9 times to $8.60 mln due to a decrease in production costs. Due to a twofold increase in logistics and distribution costs (to $9.40 mln), the company recorded an operating loss of $2.85 mln, which is twice as high as in the first quarter of 2022.
