Home
/
News
/

Sintal: only two crops in 2010/11 harvest above Ukrainian average

Sintal: only two crops in 2010/11 harvest above Ukrainian average

29 November 2011

Sintal Agriculture (SNPS GR) reported its 2010/11 harvest results (83 ths ha) and winter sowing campaign for 2011/12 this morning. With 98% of Sintal’s planted landbank harvested (not accounting for AgriCa which was acquired in September), the harvest amounted to 203.5 ths mt of crops. For winter 2011/12, the company planted 61 ths ha, up 36% y-o-y, with a focus on wheat and barley (33 and 18 ths ha, respectively). Sintal’s yields were above Ukraine`s average figures only in rapeseed last season (20% of sown land), where the company posted a 60% premium to average figures, and in barley where yields were 10% above Ukraine`s average. In other crops, yields were 10%-20% below Ukraine`s average. The results do not include figures from recently acquired AgriCa (1/3 of current landbank), which has even less efficient operations. Based on these figures, we estimate the company`s revenue from its 2010/11 harvest at USD 65 mln, 3% below our previous expectations.

Sintal’s 2010/2011 harvest results

———————————————————————
                         2010/11                                2009/10
Crop                 Harvested,   Yield,  y-o-y  Harvest,  Harvested,  Yield,
                             ths ha    mt/ha           ths mt        ths ha   mt/ha
———————————————————————
Oilseeds                  46     2.1     23%       94         28     1.7
Sunflower seed        20      1.7     8%       35         15     1.6
Winter rapeseed       16      2.6    75%      43          5     1.5
Soybeans                9        1.7     -9%      15          8     1.9
Cereals                   36      3.3    24%       122         59     2.7
Winter wheat          19      3.0     1%        58         39     3.0
Winter barley          8      2.7    47%        23          9     1.8
Corn*                     7      5.0    20%        38          5     4.2
Other                     0      1.7     307%      1          5     0.4
Total crops             82       nm     nm       216       88      nm
Sugar beet             0      25.0     4%       19          1      24
———————————————————————

 *Estimate. As of November 28, 66% of 7,532 ha planted with corn was harvested. Average yield is 5.0 t/ha.
Source: Company data

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...