Ukraine's Astarta boosts milk production 12% in 2023, grows cattle herd by 10%

MOSCOW. April 22 (Interfax) - Ukraine's Astarta Holding increased the cattle herd at its dairy farms by 10% to 26,000 head in 2023, 47% of which were milking cows, compared to 52% a year earlier, the agribusiness company said in its annual report.

The average milk yield rose 9% to 25.8 kg per day last year, Ukrainian media reported, citing a company report. Combined with the 3% growth of the dairy herd, this resulted in milk production increasing by 12% to 115,000 tonnes.

Astarta increased sales of raw milk by 13% to 111,000 tonnes in 2023, all of which was sold within Ukraine. The average selling price rose 10% to UAH14,000 per tonne in local currency, but in euros it fell 4% to 352 euros per tonne.

"Astarta's Cattle Farming Segment is spread across 33 dairy farms in three regions of Ukraine and specialized in producing raw milk for further sales to industrial dairy processors. The Company has a large-scale heifer facility opened in 2012 to raise up to 5k heads of highly productive heifers that replenish the farms' herd," the group's report said.

Astarta also said that its share of Ukraine's commercial milk production "was stable at four percent in 2023."

The company grows and produces its own forage grass and concentrated feed. The area under forage crops totaled 8,000 hectares in 2023. Astarta also has its own compound feed mill in Poltava region, which "significantly reduces dependence on external suppliers and lowers production, transportation, and storage costs," the company said.

Astarta is a vertically integrated agribusiness group that includes sugar refineries, crop farms, dairy farms, an oil extraction plant, elevators and a biogas complex. It is Ukraine's largest sugar producer.

Astarta's net profit slumped 5% to 61.9 million euros in 2023 on revenue up 21.3% to 618.93 million euros.