AgroGeneration to expand grain storage

27.04.2018

AgroGeneration, a farm operator based in Ukraine, is planning a $12 million project to expand its grain storage by 50% in Ukraine, Reuters reported on April 26.

AgroGeneration farms more than 100,000 hectares in Ukraine. The country is one of the world’s largest producers and exporters of grain and oilseeds.

“We have plans for a radical extension of our storage capacity,” Pierre Danon, vice-chairman of AgroGeneration, told Reuters. “We want to enjoy the best possible prices, something we cannot currently do for both financial and logistical reasons.”

Danon told Reuters the company is in talks with a European partner to fund the expansion project.

In 2017, AgroGeneration’s earnings were cut in half by weak grain prices and poor weather conditions that slashed corn and sunflower seed yields. But the company hopes to see a rebound as prices have started to rise over the last couple of months, Danon told Reuters.

AgroGeneration’s grain storage capacity was listed at 240,000 tonnes in 2016.


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