Astarta improves wheat yield 10% yoy in 2015 harvesting campaign



6 серпня 2015 года
Конкорд Капитал

Ukraine’s agricultural and food holding Astarta produced 269 kt of crops from 49,000 ha as a result of its early grain harvesting campaign, according to its August 5 report. This implies a 22% yoy increase in harvest from a 9% yoy larger area, we estimate.

Astarta harvested 258 kt of winter wheat yielding, on average, 5.5 t/ha. This is 10% higher than 5.0 t/ha reported a year before. Its harvest of winter barley was 10.6 kt, which implies a yield of 5.0 t/ha, down from the reported 5.3 t/ha a year before. The company increased acreage under winter wheat by about 16% yoy, while its acreage under winter barley halved yoy.

The company earlier reported on plantings of around 230,000 ha for the 2015 harvest, which is a 5% decline yoy. Astarta is focusing this year on improving its agronomic technologies and higher cost control, according to its release.

Alexander Paraschiy: With early grain data available, we believe Astarta is will be able to increase its total grain harvest in the 2015 season, despite smaller acreage. This should allow the company to slightly improve its cost efficiency. We forecast that devaluation of the hryvnia since the end of last year will allow Astarta to enjoy higher profitability of its winter crops this season. At the same time, overall operating profit of the company in the euro equivalent is likely to decline this year, largely due to the negative trend of soft commodity prices.

Источник: Конкорд Капитал



Компании

все компании