IMCOMPANY: strona spółki
1.02.2023, 17:02
IMC OPERATIONS UPDATE
OPERATIONS UPDATE
PRODUCTION In 2022 IMC S.A. (the Company) agricultural enterprises in Ukraine harvested: • 121.9 ths tonnes of winter wheat (yield 6.7 t/ha, +18% compared to 2021) • 64.2 ths tonnes of sunflower (yield 3.4 t/ha, -3% compared to 2021) Harvesting of corn - the main crop of IMC (42% of the Company's land bank was under corn in 2022) is in progress. As of February 1, 2023, 70% of the area under corn has already been harvested. Corn yield is 10.7 t/ha (10.6 t/ha in 2021). In the autumn 2022 the winter wheat was sown on an area of almost 33,000 hectares, which is 80% more than the traditional area under winter crops at the Company in previous years. All sown winter wheat has sprouted and currently is in good condition. Currently the Company is preparing for the spring sowing campaign 2023, all the necessary inputs are being purchased, and agricultural machinery is being repaired. In the spring of 2023, IMC plans to have 100% of its land bank sown (120,000 hectares). SALES Due to Russia’s full scale invasion in Ukraine on February 24, 2022 and blockade of marine export routes sales volumes of grain and oilseeds of IMC decreased by 35% in 2022 from 743 ths tonnes in 2021 to 483 ths tonnes in 2022. In 2022, the Company had to develop alternative export routes through the western borders of Ukraine, but they could not fully compensate for the volume of exports through the Black Sea ports of Ukraine. Therefore, during the first three months after the resumption of exports (May-July 2022), IMC exported on average about 14 thousand tonnes of grain per month, compared to 70 thousand tonnes on average per month in pre-war times. In August 2022, exports through the Black Sea ports of Ukraine were partially resumed (on 22 July 2022, Ukraine, Turkey, the United Nations and the Russian Federation, signed the Istanbul Grain Agreement enabling to unblock grain exports from Black Sea ports of Ukraine), thanks to which the Company managed to increase the volume of grain shipments and reach almost the pre-war level (in December 2022, IMC shipped about 66 thousand tonnes of grain and oilseeds, and in January 2023 grain and oilseeds shipments reached over 99 thousand tonnes).
PRODUCTION In 2022 IMC S.A. (the Company) agricultural enterprises in Ukraine harvested: • 121.9 ths tonnes of winter wheat (yield 6.7 t/ha, +18% compared to 2021) • 64.2 ths tonnes of sunflower (yield 3.4 t/ha, -3% compared to 2021) Harvesting of corn - the main crop of IMC (42% of the Company's land bank was under corn in 2022) is in progress. As of February 1, 2023, 70% of the area under corn has already been harvested. Corn yield is 10.7 t/ha (10.6 t/ha in 2021). In the autumn 2022 the winter wheat was sown on an area of almost 33,000 hectares, which is 80% more than the traditional area under winter crops at the Company in previous years. All sown winter wheat has sprouted and currently is in good condition. Currently the Company is preparing for the spring sowing campaign 2023, all the necessary inputs are being purchased, and agricultural machinery is being repaired. In the spring of 2023, IMC plans to have 100% of its land bank sown (120,000 hectares). SALES Due to Russia’s full scale invasion in Ukraine on February 24, 2022 and blockade of marine export routes sales volumes of grain and oilseeds of IMC decreased by 35% in 2022 from 743 ths tonnes in 2021 to 483 ths tonnes in 2022. In 2022, the Company had to develop alternative export routes through the western borders of Ukraine, but they could not fully compensate for the volume of exports through the Black Sea ports of Ukraine. Therefore, during the first three months after the resumption of exports (May-July 2022), IMC exported on average about 14 thousand tonnes of grain per month, compared to 70 thousand tonnes on average per month in pre-war times. In August 2022, exports through the Black Sea ports of Ukraine were partially resumed (on 22 July 2022, Ukraine, Turkey, the United Nations and the Russian Federation, signed the Istanbul Grain Agreement enabling to unblock grain exports from Black Sea ports of Ukraine), thanks to which the Company managed to increase the volume of grain shipments and reach almost the pre-war level (in December 2022, IMC shipped about 66 thousand tonnes of grain and oilseeds, and in January 2023 grain and oilseeds shipments reached over 99 thousand tonnes).