18 Oct 2023 14:16

Ukraine's Astarta sows winter crops on 61,000 hectares for harvest in 2024

MOSCOW. Oct 18 (Interfax) - Ukrainian agro-industrial holding Astarta has completed sowing winter crops for the 2024 harvest on an area of 61,000 hectares, 49,000 of which are allocated for winter wheat and 12,000 for winter rapeseed, Ukrainian media reported with reference to the agricultural holding's press service.

The sowing was completed in an optimal period in compliance with all technological parameters, the press release said.

Meanwhile, the autumn harvest continues, with corn and sugar beets being harvested.

"Oil crops were harvested: the gross harvest of sunflower was 83,000 tonnes, soybean was 169,000 tonnes. Productivity was 3 tonnes/ha and 3.1 tonnes/ha, respectively," the company reported.

Astarta is a vertically integrated agro-industrial holding, and is the largest sugar producer in Ukraine. It is comprised of sugar factories, agricultural farms, dairy farms, an oil extraction plant, elevators and a biogas complex. The founder and general director is Viktor Ivanchik.

In H1 2023, Astarta's revenue from sales of key products increased 60% to UAH 10.72 billion. The main sales contributions were made by sugar, at UAH 3.27 billion (an 80% increase YoY), corn, at UAH 2.66 billion (a 50% increase), and soybean meal, with UAH 1.96 billion (an 80% increase).

The group earned 65.16 million euros in net profit in 2022, which is 47.4% less than in 2021. EBITDA decreased 23.2% to 154.77 million euros, while revenues increased 3.8% to 510.07 million euros.

The official exchange rate as of October 18 is 36.45 UAH/$1.