The largest farming holding in Ukraine in the terms of the size of its land bank, Ukrlandfarming, received $60 million of up front payment for grain from Cargill, Ukrlandfarming said in a press release on, Oct., 25.
The company said that the funds are paid under a contract of cooperation signed by the two companies. The details of the contract are not disclosed.
“This partnership is very important in the context of our business expansion strategy, including the Chinese and Asian markets where Cargill has firm positions,” the company said, citing Board Chairman and owner of Ukrlandfarming Oleh Bakhmatiuk.
He said that in the future the companies would expand the product range to supply Ukrainian products under cooperation.
Ukrlandfarming, according to the company, is the largest agricultural holding in Eurasia. It is engaged in the cultivation of grain, the production of eggs and egg goods, sugar, cattle breeding, and the distribution of equipment, fertilizers and seeds. The company’s land bank today is 670,000 hectares.
Ukrlandfarming plans this year to become one of the top three largest grain exporters, supplying 2.5 million tonnes of grain to foreign markets.
Cargill is one of the largest producers and suppliers of foodstuff in the world and financial services. The company was founded in 1865. The company has two oil-extraction plants in Ukraine – in Donetsk and Kherson regions.
