Crop condition report
Agrokultura AB (“the Group”), the owner and operator of farmland with agricultural operations in Russia and Ukraine announces a condition update for its winter planted crops.
In Russia where 16,300 ha of winter wheat were planted in 2013, weather conditions have been less optimal than in the previous year. The seeding campaign was characterised by very wet conditions. This caused a reduction in planting levels which will be addressed by an increase in spring planting 2014. Winter conditions have been reasonable with a wet and relatively warm end to 2013. While temperatures dropped to -35 Celsius in January 2014, the crop was protected by snow cover which has led to no material winter losses. A majority of the cropped area is designated as satisfactory or excellent with the latest planted areas being weak. Weather over the coming months to harvest will dictate what yields are to be achieved.
In Ukraine where 24,700 ha were seeded, made up of 12,400 ha of winter rapeseed, 8,200 ha of winter wheat and 4,100 ha of winter barley, similar weather conditions have been encountered to Russia which has also led to no material winter losses. Approximately 85 per cent of fields are deemed to have emerged from the winter in excellent condition with the remainder in average condition.
Stephen Pickup, Managing Director, commented
“We have come out of the winter undamaged with the potential for good yields. Harvest for those winter crops will be upon us shortly and we will focus our attention on ensuring all necessary resource is put into the extraction of the maximum yield possible. The pricing environment is showing some positive trends and we are hoping for favourable weather conditions for the rest of the season.”
For additional information, please contact:
Stephen Pickup, Group Managing Director, tel: +44 782 529 4352
Kristian Shaw, Group CFO, tel: +44 782 529 4356
About Agrokultura AB (publ)
Agrokultura invests in farmland and produces agricultural commodities in Russia and Ukraine. The Group aims to generate an attractive return on invested capital by optimally utilizing its agricultural land bank through crop production, livestock and related operations. Shares in Agrokultura are listed in Sweden on the Nasdaq OMX First North exchange under the ticker AGRA and the Group’s Certified Adviser is Remium Nordic AB.