You are here

AgroGeneration faces mixed crop year in Ukraine after summer drought

PARIS, Oct 6 (Reuters) - French farm operator AgroGeneration
said on Friday that summer drought in eastern Ukraine
will affect its sunseed harvest and could push its production
down this year despite a bumper wheat crop.

The Paris-listed firm, which farms just over 100,000
hectares in Ukraine, has observed a "significant" hit to yields
in sunseed already harvested in the east, Vice Chairman Pierre
Danon said in an interview, declining to give a precise figure.

An exchange rate effect linked to a farmland sale in the
east weighed on its first-half results, with AgroGeneration
reporting a 305,000 euro ($351,000) loss compared with a
233,000 euro profit a year earlier.

But core earnings before interest, tax, depreciation and
amortisation (EBITDA) rose to 5.95 million euros from 5.80
million euros. ($1 = 0.8540 euros)
(Reporting by Gus Trompiz; Editing by Bate Felix)

© Copyright Thomson Reuters 2017. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about

Talk in Marketing

Most Recent Poll

Will you plant more corn or soybeans next year?