OREANDA-NEWS. December 30, 2011. MHP S.A. (LSE: MHPC) (“MHP” or “The Company”), one of the leading agro-industrial companies in Ukraine, focusing on the production of poultry and cultivation of grain, has completed its 2010-2011 harvesting campaign.

MHP cultivated and harvested in its grain growing segment 250 thousand hectares in 2011 (total land bank is 280,000 hectares), which is 67% more than in 2010 (2010: 150,000 hectares out of total 180,000 hectares). This year MHP harvested 1,712,575 tons of grains and oilseeds, which is 88% more than last year (2010: 913,058 tons).

 

2011

 

2010 (for land under control as of 01.01.2010)

 

Production, ton

Cropped, ha

Production, ton

Cropped, ha

Corn

1,060,600

107,850

492,642

63,165

Wheat

267,250

52,210

183,785

39,360

Sunflower

73,530

27,000

65,455

25,630

Rapeseeds

25,400

9,150

9,010

3,020

Other*

285,795

54,090

162,166

15,442

Total:

1,712,575

250,230

913,058

146,617

*- including soybeans, barley, sugar beets The average yield in 2011 amounted to:

            Corn - 9.8 t/ha in comparison to 7.8 t/ha in 2010, increase in 2 t/ha (26.1%);

Wheat - 5.1 t/ha in comparison to 4.7 t/ha in 2010, increase in 0.4 t/ha (8.2%);

Sunflower - 2.8 t/ha in comparison to 2.6 t/ha in 2010, increase in 0.2 t/ha (9%);

Rapeseed - 2.8 t/ha in comparison to 3.0 t/ha in 2010, increase in 0.2 t/ha (-7.0%).

Storage capacities for grains and oilseeds increased in 2011 as following:

For sunflower - 200,000 m (80,000 tons), due to commissioning of the elevator at fodder complex "Ladyzhinsky" (a site of the Vinnytsia project);

For corn - 200,000 m (160,000 tons), due to commissioning of the elevator at fodder complex "Ladyzhinsky" (a site of the Vinnytsia project);

For soybeans - 45,000 m (34,000 tons), due to the commissioning of the elevator LLC "Katerynopilsky elevator", which is now partly used for storage of corn.

Total storage capacities for sunflower seeds increased from 173,000 tons in 2010 up to 253,000 tons in 2011, and total storage capacities for grain crops increased from 220,000 tons in 2010 up to 415,000 tons in 2011.

MHP didn't increase fodder production capacities in 2011 and they remained at the level of 1,200 thousand tons of fodder per annum.

Fodder complex "Ladyzhinsky" will be commissioned in Q4 2012. It will satisfy the demand for fodder of the Vinnytsia project. Its full capacity will be 1,200 thousand tons of fodder per annum.