Mriya launches sowing campaign

Ukrainian farmer Mriya (MRIYA) has launched its winter crop campaign with the goal of sowing around 100,000 ha of land, the Interfax-Ukraine news agency reported on July 29. The company has acquired and leased agriculture equipment worth a total of USD 5 mln in order to run the sowing campaign, the report said.

The company also announced it started this month harvesting its 126,000 ha land after acquiring the necessary funds, including a USD 25 mln credit line.

Roman Topolyuk: The launch of the sowing campaign is positive from an operating viewpoint, especially since it’s backed by financing support from creditors. Still, the company’s standing will be defined by its recovery of assets from previous shareholders, the development of a debt restructuring plan and the plan’s approval by the majority of creditors.