Ukraine's KGS Agro intends to cooperate with Poland's Makarony Polskie in marketing agricultural products

MOSCOW. July 12 (Interfax) - The Ukrainian agribusiness holding KSG Agro and Poland's pasta manufacturer Makarony Polskie based in Rzeszow have signed a protocol of intent to trade in vegetable oil and grain and pursue cooperation in other agricultural production sectors.

The news on the protocol's conclusion was announced at the Warsaw Stock Exchange on Monday evening, Ukrainian media have reported.

In particular, the parties intend to cooperate in importing rapeseed and sunflower oil from Ukraine for processing and selling it in Poland and third countries.

The protocol is not a binding agreement but only indicates the parties' desire to start cooperation negotiations.

As is stated on the website of Makarony Polskie, the company is a leading pasta producer in Poland, having production facilities in Rzeszow and Czestochowa. It sells its products under the brands Makarony Polskie, Sorenti, and Abak.

KGS Agro is a vertically integrated holding company specializing in pig farming, as well as the production, storage, processing, and trade in grain and leguminous crops. It owns about 21,000 hectares of land in the Dnipropetrovsk and Kherson regions of Ukraine.

KGS Agro claims to be among the top 5 pork producers in the country.

The company increased its net profits 16 times to $20.27 million, revenue by 44% to $30.75 million, and doubled its EBITDA to $12.28 million in 2021 compared to 2020.