11:01 01.12.2011

Sintal Agriculture sees 3% rise in gross harvest in 2011

2 min read
Sintal Agriculture sees 3% rise in gross harvest in 2011

Sintal Agriculture agroholding, a large producer of agricultural goods in Ukraine, in 2011 harvested 216,600 tonnes of crops, which is 2.7% up year-over-year, the holding reported on Wednesday.

The holding said that its farms harvested 58,900 tonnes of winter wheat against 119,100 tonnes last year.

This year Sintal Agriculture harvested 38,000 tonnes of corn, a 67.6% rise year-over-year.

The holding reduced soybean harvest by 2.3%, to 15,600 tonnes and sugar beet harvest halved, to 19,000 tonnes.

Sunflower seeds harvest grew by 49.6%, to 35,900 tonnes.

The company said that cereals yield grew by 24% in 2011 and that for oilseeds by 23%.

The company sowed 82,700 hectares for 2011 harvest against 88,800 hectares a year ago. In particular, Sintal Agriculture increased oilseed fields by 59%, as the negative impact of state regulation on price formation in the segment was the smallest, in contrast to cereals.

Sugar beet fields were halved due to the expected fall in the prices of sugar in Ukraine due to sugar overproduction.

As reported, Sintal Agriculture was set up in 2008. Its parent company is Kharkiv-based Sintal D LLC research and production firm, which has been operating in Ukraine since 1992. It cultivates wheat, maize, sunflower seeds, barley, sugar beet, buckwheat, soybeans, peas, and other crops. It owns two sugar refineries, a pig farm, and 16 agribusinesses.

The company’s shares have been listed on the Frankfurt Stock Exchange since August 2008.

According to the company, 53% of its shares belong to businessman Mykola Tolmachev, 8% to Vadym Mohyla, 2% to the top management, and 36% to institutional investors.

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