Yubileiny to process peas under own brand in China until launch of Russian plant

TYUMEN. July 27 (Interfax) - Yubileiny, a Russian agribusiness group based in Tyumen Region, has exported the first shipment of peas to China for processing and subsequent sale of finished products under its own brand, the company said in a press release.

"The first shipment of peas in the amount of 1,500 tonnes was delivered in July 2023. A contract has been signed with a major Chinese processor to process peas under a tolling arrangement. Pea isolate in the amount of 250 tonnes will be produced under the Proteinsib trademark," the company said.

The first batch of finished product is expected in mid-September. The company plans to export 15,000 tonnes of peas to China in 2023-2024 and obtain and sell about 2,500 tonnes of pea protein isolate.

This arrangement will enable the company to get its pea isolate on the market sooner, Yubileiny said.

"After the new plant is put into operation, the investor faces the no less difficult challenge of reaching full capacity. As a rule, this process takes two to three years. Essentially, we have a product and we're starting to establish a customer base. This will enable us to reduce to a minimum the time it takes to reach full capacity," Yubileiny CEO Sergei Mamontov said in the release.

Yubileiny is building the Proteinsib plant for intensive processing of peas in Tyumen Region at a cost of more than 6.7 billion rubles. The plant, with capacity to process 70,000 tonnes of feedstock, is expected to open in 2027.

Yubileiny's main businesses are pig farming (breeding center for 2,000 female pigs and commercial pig farm for 100,000 pigs); meat processing (20,000 tonnes of products per year), crop farming (93,000 hectares of arable land), compound feed production and wholesale and retail trade.

The company's ownership structure has not been disclosed. Yubileiny's website states that the group's president and board chairman is Nikolai Mamontov and its CEO is Sergei Nikolayevich Mamontov.