Cherkizovo Group Increased its 2013 Grain Harvest
OREANDA-NEWS. December 02, 2013. Cherkizovo Group (LSE:CHE), Russia’s largest meat and feed manufacturer, reports that it has completed the 2013 harvesting campaign.
The 2013 harvest amounted to 175 thousand tonnes (bunker weight), up 51% from 116 thousand tonnes in 2012 (bunker weight).
The net harvest amounted to 163 thousand tonnes vs 110 thousand tonnes in 2012 (+48%).
This year, the Group planted and harvested approximately 40 thousand hectares in the Orel and Voronezh regions.
Commenting on 2013 harvest, Sergei Mikhailov, Cherkizovo Group CEO, stated: “Our grain segment demonstrated strong operational results for the second year in a row. This year, we doubled the wheat harvest and tripled the corn harvest. Our land is located in the fertile Black Earth region of Russia, and the Company aims to combine the most modern agro with the use of the best management practices. This is why we speak of good results and strong growth potential. Our competitive advantage is the combination of our own land and our grain storage facilities that may hold approximately 500 thousand tonnes of grain. With that, we are able to build a flexible grain procurement program and act with the confidence under any market conditions.”
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