Ukravit Group seeks to boost production of crop protection agents, fertilizers almost 2.9-fold by 2020
A group of companies Ukravit, the largest crop protection agents and micronutrient fertilizers producer in Ukraine, seeks to boost production almost 2.9-fold, to 20,000 tonnes.
"We plan to reach production of 20,000 tonnes of goods in three years. At the end of the 2017 marketing year (MY) we produced 7,000 tonnes of crop protection agents and micronutrient fertilizers for the amount of $40 million," the owner of Ukravit Group, Vitaliy Ilchenko, said at a press conference in Kyiv.
He said that in MY 2018 the group intends to produce 8,000 tonnes ($49 million).
"Some amount of goods, around 5-7% is exported to Moldova and Georgia," he said.
A total of 215 tonnes of micronutrient fertilizers and crop protection agents for $1.2 million were shipped to Moldova and 148 tonnes to Georgia for $1.2 million.
"The company's share of the crop protection agents and fertilizer market in Ukraine this year is 9%. In three or five years we plan to reach 25%," Ilchenko said.
According to the group's assessments, the crop protection agent market in Ukraine in 2017 would be $280 million and could expand by 17% by 2020. The micronutrient fertilizers market in Ukraine is estimated at $150 million.