May 3, 2010

Myronivskyi Khliboprodukt poultry sales show increase in Q1

In the January-March quarter of 2010, Ukraine's poultry meat producer, Myronivskyi Khliboprodukt , increased sales of chicken meat by 64.4% to 83,000 tonnes, as compared with the January-March quarter in 2009.

"Over the first three months of 2010 the volume of sales of chicken meat grew by more than 60% in comparison with the first quarter of 2009, reaching 83,000 tonnes (50,500 tonnes in the first quarter of 2009)," the company's statement said.

In the first quarter all the company's production facilities were working at full load as consumer demand for chicken was keeping high during this period, which enabled the company sell about 100% of all the products it made.

Average prices for chicken meat in the first quarter made UAH12.38 (US$1.56) per kilogram (less VAT), while in the first quarter of 2009 they stood at UAH12.43 (US$1.57) per kilogram (less VAT).

The company said chicken meat production costs rose in the first quarter on-year owing to higher market value of the grains harvested in 2009 as compared with those harvested in 2008, when the grain price was very low.

Myronivskyi Khliboprodukt informed that currently it manages almost 190,000 hectares of farmland.

It has been reported that Myronivskyi Khliboprodukt has plans to increase poultry meat output by 21% to 330,000 tonnes in 2010.

Myronivskyi Khliboprodukt recorded a net profit of US$160 million for 2009, when its revenues reduced by US$92 million or 11.5%, to US$711 million compared with 2008.

Myronivskyi Khliboprodukt is a vertically integrated open joint-stock company consisting of enterprises producing fodder and incubation eggs as well as enterprises breeding cattle and chicken.