Ukraine. MHP slashed sunflower oil sales, boosted soybean in 12M 2021
MHP SE, a parent company of the agro-industrial group in Ukraine, founded and chaired by Yuri Kosyuk, reported 37% lower YoY sunflower oil sales in 12M 2021. The supply of the product stood at 207,240 t (12M 2020: 330,823 t). As explained by the company, the drop was mainly driven by a decrease in the production of oil because of decreased share of sunflower cake in fodder (change in recipe).
MHP’s soybean oil sales in 12M 2021 boosted by 11% YoY to 45,209 t (12M 2020: 40,904 t). The increase in sales of soybean oil in 12M 2021 is a result of soya cake share increase in fodder recipe and partial substitution of sunflower cake in it, which also resulted in decreased sales of soybean cake to third parties, the report reads.
It is marked that the company considers vegetable oils exports as one of the “natural hedge” routes accumulating additional hard currency revenues and protecting the company from volatilities in local currency.
Previously reported that Katerynopilsky elevator, a subsidiary of MHP in Ukraine, was refunded with UAH 231.95 mln of VAT in December 2021.
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