Business news from Ukraine

Business news from Ukraine

“Astarta” has started sowing winter rape for season-2024

2 August , 2023  

Agrofirm Dobrobut from the group of companies of Astarta agro-industrial holding Astarta, the largest sugar producer in the country, has started sowing winter rape for the season-2024.

According to information on the website of the Warsaw Stock Exchange (WSE), the agroholding will reduce the area under rape by 12% in the new season and will allocate 12,000 hectares to it.

“Compared to last year, we reduced the sown area under rapeseed by 12%, but only at the expense of crop rotation,” the press service quoted Astarta’s director of agricultural production Vadim Skrypnyk as saying.

He noted that for the Poltava region, which is always subject to unfavorable weather conditions in summer, sowing winter crops is the least risky and allows you to get good yields. “In addition, we have noticed that early sowing brings a positive effect. Therefore, this year we start sowing earlier where possible,” he added.

According to the agricultural holding, Astarta will start sowing somewhat later in the western regions of the country due to a delay in winter wheat harvest due to weather conditions.

“Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It includes six sugar mills, agricultural farms with a land bank of 220,000 hectares and dairy farms with 22,000 cattle, an oil extraction plant in Globino (Poltava region), seven elevators and a biogas complex.

In the first half of 2023, Astarta’s revenue from sales of key products increased by 64.8% year-on-year to UAH 10.72 bln. The main contribution was made by sales of sugar – UAH 3.27 bln, which increased by 75.5%, corn – UAH 2.66 bln (+53.2%) and soybean meal – UAH 1.96 bln (+84.5%).

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