Rusagro Group boosts sugar revenue 7% in Q3, meat revenue up 26%
MOSCOW. Oct 21 (Interfax) - The Rusagro Group saw revenue for its sugar segment increase 7% in Q3 2019 to 7.57 billion rubles, the company said in a statement.
Meat segment revenue rose 26% to 7.13 billion rubles.
Sugar sales increased 17%, to 274,000 tonnes, with the average sales price falling 6%, to 26.5 rubles per kilogram.
Sales increased 97% for live pigs, to 10,000 tonnes; 89% for carcasses, to 9,000 tonnes; 36% for cuts, to 29,000 tonnes; and 43% for byproducts, to 6,000 tonnes. Prices fell 23% for livestock, to 81.30 rubles/kg; 14% for carcasses, to 135.8 rubles/kg; 10% for cuts, to 165 rubles/kg; and 18% for byproducts, to 55 rubles/kg.
Revenue increased 3.4-fold for Rusagro's oil and fat business, to 15.64 billion rubles, as sales continued to increase. Sales grew almost threefold for mayonnaise, to 37,000 tonnes; 66% for margarine, to 11,000 tonnes; 37% for bottled oil, to 37,000 tonnes; and eightfold for bulk oil, to 92,000 tonnes. Sales of industrial fats grew to 70,000 tonnes from 2,000 a year earlier.
Revenue grew 54% for the group's agriculture business, to 5.88 billion rubles. Sugarbeet sales fell 3%, to 944,000 tonnes, and wheat sales grew threefold, to 212,000 tonnes.
In 9M, sugar revenue increased 31%, to 23.24 billion rubles; 21% for meat, to 18.29 billion; and 3.6-fold for oil and fats, to 51.98 billion. It doubled for agriculture, to 15.22 billion.
Revenue totaled 2.83 billion rubles for the new dairy segment in 9M (995 million in Q3).