17:31 26.05.2016

Cofco Agri Ukraine to retain crop exports from Ukraine at 2.6 mln tonnes in 2016/2017 MY

1 min read
Cofco Agri Ukraine to retain crop exports from Ukraine at 2.6 mln tonnes in 2016/2017 MY

Cofco Agri Ukraine, belonging to China's Cofco Corporation, one of the largest global manufacturers and suppliers of agricultural and food products, plans in the 2016/2017 marketing year (MY, July-June) to retain the volume of agricultural crop exports at the level of the previous year – 2.6 million tonnes.

"Taking into account the launch of a new terminal, we'll export 2.6 million tonnes, including 2.3-2.4 million tonnes of grain. We have about the same plans for next year," company CEO Volodymyr Osadchuk told Interfax-Ukraine.

According to him, Cofco Agri Ukraine operates mainly in the spot market of grain purchases, forward contracts account for 10-15% of total purchases and they are signed with reputable companies.

In Ukraine the company owns four elevators: one in Kherson and Donetsk regions and two in Dnipropetrovsk region. The elevator in Donetsk region is not working because it is located in the territory not controlled by Ukraine.

In addition, Cofco Agri Ukraine owns an oil extraction plant in Mariupol.

As reported, Cofco Agri Ukraine invested $75 million in the launch of a grain handling terminal of 2.5 million tonnes per year in Mykolaiv seaport.

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