Business news from Ukraine

Business news from Ukraine

Ukraine’s largest mushroom farm has ceased operations

The mushroom and compost production of the Veres agro-industrial group of companies in Kaniv (Cherkasy region) has ceased production since July 2023, with production processes suspended and equipment mothballed, the mushroom news agency UMDIS reports.
According to the agency, the company has recently tried to find a tenant and maintain production, but to no avail.
As noted, the lion’s share of the mushroom harvest was collected for the needs of its own canning shop – Veres pickled mushrooms are known to most Ukrainians.
The Veres mushroom farm consists of 36 mushroom growing chambers of 700 square meters each, making it the largest in Ukraine. In the best of times, production reached 450 tons of mushrooms per month. Compost production was up to 3,500 tons of F2 compost per month. The company had been operating since 2004.
The reason for its closure was recent losses.
Veres Group, part of the Smart-Holding industrial and investment group, is a vertically integrated FMCG business specializing in the production of food products, including canned goods and sauces. Prior to the Russian invasion, the group comprised two processing and two agricultural enterprises, a logistics center for storing products, and a farm for growing champignons. The group’s facilities processed up to 25 thousand tons of fruit and vegetable products annually.
Before the war, products under the Veres brand were supplied to more than 35 countries. The group was among the TOP-3 producers of canned vegetables in Ukraine.
“Smart-Holding is one of the largest industrial and investment groups in Ukraine. It invests in mining and metals, oil and gas, banking, agriculture, shipbuilding, real estate and energy.