You're reading: MHP posts 6% fall in harvest in 2012

Myronivsky Hliboproduct (MHP) in 2012 harvested 1.6 million tonnes of crops, which is 6% down on 2011, reads a company report on the London Stock Exchange (LSE) on Friday.

The report says that the harvest fell due to challenging weather conditions.

Corn harvesting fell by 13.6%, to 883,580 tonnes, while wheat harvesting was down by 25.2%, to 199,900 tonnes.

The sunflower seed harvest grew from 73,730 tonnes in 2011 to 90,620 tonnes, that for rapeseeds from 25,400 tonnes to 42,350 tonnes, and for soybeans – from 18,000 tonnes to 24,230 tonnes.

In 2012 the company harvested 250,000 hectares of land in grain growing operations, compared to 250,200 hectares in 2011.

The holding said that at the end of 2012 MHP’s total land bank constituted around 285,000 hectares.

MHP is the largest Ukrainian poultry producer. In addition, it produces grain, sunflower oil and other foods.

Currently the company is implementing a large investment project on the construction of a poultry complex in Vinnytsia region, which will include elevators, a feed mill and an oil extraction plant.

In January-September 2012, MHP’s net profit grew by 39.8%, to $280.77 million. Its revenues came to $1.044 billion (an increase of 18.7%).