Business news from Ukraine


3 February , 2016  

KYIV. Feb 3 (Interfax-Ukraine) – Myronivsky Hliboproduct (MHP) exported some 13,950 tonnes of soybeans oil in 2015 at the price of $733 per tonne and around 3,715 tonnes of soybeans oil in September-December 2015, the company reported on Tuesday.

Since Q2 2015 MHP has started exporting soybeans oil produced from 2014 harvest using one of the Ukrainian soybeans oil extraction plants (not MHP facility). At the same time, soybeans cake is used for fodder production at MHP’s fodder production facilities.

In October 2015 MHP has launched soya extraction plant into operations (as a part of Katerynopilsky Elevator). The production capacity of the site is 1,000 tonnes of soybeans per day. During the trial period (since the beginning of October) the plant worked at 50% capacity utilization.

“The company considers soybeans oil exports as one of the “natural hedge” routes accumulating additional hard currency revenues and protecting the company from volatilities with local currency,” MHP said in the report.

In addition, in Q4 2015, MHP sold 69,050 tonnes of sunflower oil, which was 18% lower than in Q4 2014. The average price of $759 per tonne in Q4 2015 was 4% lower than in Q4 2014 ($789 per tonne) in line with world market trends. In 12M 2015, production of sunflower oil decreased by 3% to 286,745 tonnes, sold at an average price of $779 per tonne, which was 7% lower compared to price in 12M 2014 ($835 per tonne).