3 February 2017
Due to excessive rains and problems with agricultural machinery Mriya has been unable to collect late crops on time. As a result at the end of Y2016 significant part of corn and other crops area remained not harvested, yields have been lower than expected as well.
Excessive rains in October have been followed by early snowfalls in November, so the company faced significant delays in harvesting. Along with it because of raid attacks (blocking of agricultural machinery), reportedly from former owners of the company, it had problems with grains harvesting even when weather conditions allowed to proceed with it.
As a result, as of January 1st 2017 28% of corn area, 7% of sunflower seeds area and 27% of potato area was not harvested. Yields have also been significantly lower than average, for example – corn yield made just 5.1t/ha (Ukrainian average – 6.6t/ha), soybeans – 1.0t/ha (Ukrainian average – more than 2.2t/ha).
Winter crops plantation campaign was not realized according to the plans as well – winter wheat sown area made 40k ha (-43% vs. initial plan).
Full report is available here.
Recently it was reported that Chief Operations Officer of Mriya left the company.
Popular on site:
Ukrainian sunflower oil monthly production and export break new record
Shareholders of Mriya rejected first takeover proposals but remain open for new discussions
Kernel Holding held a conference call with investors