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IMC reports flat yoy corn yield in 2017 season

IMC reports flat yoy corn yield in 2017 season

8 February 2018

Ukrainian farmer IMC (IMC PW) reported on Feb. 7 it
has completed its harvesting campaign of corn, with an average yield of 9.1 t/ha
in 2017 (flat yoy). The company harvested 610,000 tons of corn from an area of
67,000 ha. “Along with the intensification of technology, the basis for such a
result was a whole series of innovative solutions introduced that allowed for a
more efficient use of material and human resources,” said Oleksandr
Verzhykhovskyi, IMC’s COO.

 

In related news, Ukraine’s final 2017 harvest results
were reported on Feb. 1 by the Agrarian Ministry with an average yield decline
in wheat by 2.4% yoy to 4.1 t/ha and corn by 17.6% yoy to 5.4 t/ha.

 

Andriy Perederey: While the
average yields of corn and wheat dropped due to bad weather conditions, the
yields of Ukraine’s agri-holdings were above average, as tradition. But IMC’s
harvest results for corn, the company’s key crop, were exceptionally strong
with yields at 25% higher than the average for Kernel and MHP and 67% higher
than Ukrainian average. So we expect IMC to enjoy strong bottom line results
for 2017 and first half 2018. And we remain bullish on its stock, which still
has solid potential for mid-term growth.

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