CHS Ukraine with partners to allocate $50 mln for farmers support program in 2017

16:30, 07.11.2016 1 min read

CHS Ukraine LLC is to allocate $50 million under a program for support of agricultural producers in 2017, CHS Ukraine CEO Viacheslav Kolosvetov has said.

"Some $50 million has been earmarked for a joint project with Syngenta and Galnaftogaz, this amount will be allocated in spring," he said at a press conference in Kyiv on Monday.

In his words, Galnaftogaz will supply fuel, while Syngenta will provide farmers with seeds, pesticides and herbicides with a payment grace period at a small rate. Farmers will in turn pay in grain, which will be exported by CHS Ukraine.

In 2018, CHS Ukraine plans to spend $100 million on the said program, he said.

In the 2015-2016 marketing year, the company exported 1.1 million tonnes of grain from Ukraine. It plans to raise exports from Ukraine to 1.5 million tonnes in the 2016-2017 marketing year.

According to Kolosvetov, CHS Ukraine works at a profit. It appeared on the Ukrainian market in 2008. It owns Odesa-based Olimpex terminal, the company's investment in the project was $42 million.