June 4, 2008


Landkom doubles Ukraine land base for wheat, rapeseed crops



Farming group Landkom International PLC (LKI.LN) Tuesday (June 4, 2008) said it doubled its bank of Ukrainian farmland leases in the first five months of 2008 to 100,400 hectares.


The company earlier set a goal to lease 115,000 hectares by the end of 2008 for future crop planting, mostly wheat and rapeseed.


"The land acquisition programme has accelerated quickly due to the greater experience of the team," said Richard Spinks, chief executive of Landkom.


For harvest in 2008, Landkom planted 10,000 hectares of combined winter wheat and rapeseed as well as 4,000 hectares of spring wheat.


Landkom plans to quadruple its planted acreage in Ukraine to 40,000 hectares in 2009, with 75,000 hectares and 125,000 hectares in the following two years. The company is targeting 350,000 hectares by 2015.


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