Agricultural Investments

April 29, 15:08 Source: Interfax-Ukraine Views: 108

Ukrainian HarvEast to reduce investments in Crimea

Ukrainian HarvEast Holding, which owns 197 hectares in Donetsk region and Crimea, has no plans to leave the peninsula, but this year minimizes the sowing campaign in the region, - according to Interfax - Ukraine with reference to the press service of the company. Holding will buy less expensive seeds and pesticides as well as reduce the rate of fertilizer use . "In other aspects we will work within the existing legal framework no matter how difficult it may be now, and closely monitor the situation on the peninsula ," – according to the agency in the company.


Holding was established in 2011 on the basis of agricultural assets of Ilyich Steel Plant, said on its official website. SCM-Group and Smart-Holding Group are HarvEast Holding shareholders. The company is involved in plant cultivation, including seed as well as dairy farming (17.5 thousand of cattle) and feed production. In Crimea, 450 hectares are under orchards.


HarvEast Holding - one of the largest milk producers in Ukraine. In 2012, the holding company produced 56.5 thousand tons, in 2013 - 42.6 thousand tons, the company is now having problems with the supply of milk from the Crimea to Ukraine: on the mainland buyers refuse to take the Ukrainian crude materials without a certificate, and the internal market of Crimea, according to the Holding information, don't need such volumes as this region has no major processor. Exactly how much milk HarvEast produces in the Crimea, is not specified. Previously, the Federal Ministry of Agriculture estimated that the shortage of milk and dairy products in the Crimea this year could reach 585 thousand tons. Last year, according to the Ukrstat milk production in the Republic amounted to 308.5 thousand tons



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