January 15, 2014
In late 2013, Cargill had bought a 5% stake in Ukrlandfarming, Ukraine's leading agriculture group and major producer of eggs, grain, meat and sugar.
"The agreement with Cargill indicates an important step for Ukrlandfarming in developing our international presence and export potential," Ukrlandfarming's CEO, Oleh Bakhmatyuk, said.
Several other projects are being discussed between Cargill and Ukrlandfarming, the Ukrainian company added. Ukrlandfarming has a London-listed offshoot called AvangardCo .
It said that ULF was working with Cargill's grain division to meet Cargill's specific needs for grains in Ukraine, while Cargill for its part was providing financial terms to ULF which allowed Cargill to secure supply.
For over 20 years, Cargill has been active in Ukraine, operating two large sunflower oil plants and several silos. The company is among the largest exporters of Ukrainian grains and sunflower oil.
