IMC Agroholding completed the corn harvest on November 17, which was the fastest time to complete the harvest of grains and oilseeds in the company over the past 10 years, the company’s press service reported.
According to the report, about 611 thsd tonnes of corn were harvested from an area of 65.7 thsd ha with a yield of 9.3 t/ha. The corn yield is also significantly higher than the national average, which, according to the Ministry of Agrarian Policy and Food, is 6.3 t/ha.
“The current yield cannot be called a record, although it is almost one and a half times higher than the national average, but the low moisture content of corn (17.8%) made it possible to significantly reduce the cost of grain drying and logistics, which, together with good prices, gives confidence in a good financial result,” commented Bogdan Krivitsky, Chief Operating Officer of IMC.
As reported, in the 2024 season, IMC grew spring crops on 90 thou hectares, of which 65.8 thou hectares were allocated for corn and 24.2 thou hectares for sunflower. The agricultural holding completed sunflower harvesting in the last days of September. The company produced 77.7 thousand tons of gross harvest with a yield 60% higher than the national average of 3.2 t/ha.
IMC Agro Holding is an integrated group of companies operating in Sumy, Poltava and Chernihiv regions (north and center of Ukraine) in the crop production, elevators and warehouses segments. The Group’s land bank is about 120 thousand hectares and storage capacity is 554 thousand tons, with the 2023 harvest of 1.002 million tons.
In 2023, IMC posted a net loss of $21.03 million compared to $1.12 million a year earlier, and its EBITDA decreased 11.3 times to $3.22 million. Revenue increased by 22.3% to $139.45 million, while the share of exports decreased to 68% from 73% a year earlier.
