15 Feb 2024 10:04

Ukraine's Astarta boosts export revenue 17% in 2023

MOSCOW. Feb 15 (Interfax) - Astarta Holding, Ukraine's largest sugar producer, exported more than 1 million tonnes of product in 2023 and earned 325 million euros in export revenue, 17% more than in 2022, Ukrainian media reported, citing a statement from the agribusiness group.

"Many regular logistical obstacles characterised 2023," such as the termination of the Black Sea grain export deal and significant restrictions on exports across land borders with the EU, Astarta commercial director Vyacheslav Chuk said in the statement.

"On the other hand, these challenges have mobilised our team to look for new opportunities. To diversify our logistics flows, we used combined modes of transport - the lion's share of our products was exported through a sea corridor from the ports of Odessa...," Chuk said, adding that the company also delivered shipments by land to Polish ports and Danube ports.

The company, which exported to a total of 44 countries in 2023, said the main markets for its corn were China, Spain, Portugal and the Netherlands, and the main buyers of its wheat were Spain, Indonesia, Portugal and Sri Lanka. Astarta exported sugar, soybean oil and meal primarily to European markets, and exported organic products to Germany, France, Switzerland and the Czech Republic.

Astarta said it intends to further diversity and expand its markets, optimize logistics and increase exports.

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