In January-June 2022, Kyiv-based MHP, one of the largest poultry meat producers, reduced sales of sunflowerseed oil by 10.6% or 9,664 tons to 81,476 tons compared to the same period in 2021.
This is stated in the company's report, Ukrainian News Agency reports.
According to the report, in the 2nd quarter of 2022, sales of MHP sunflowerseed oil increased by 38% and amounted to 48,495 tons year-on-year, mainly as a result of an increase in the share of sunflowerseed meal in feed (recipe change), which was smaller in the 2nd quarter of 2021 (the last year's recipe for feed was mainly based on soya meal).
"In the first half of 2022, exports of sunflowerseed oil decreased by 11% year-on-year and amounted to 81,476 tons, mainly due to a change in terms of supply as a result of complications in logistics (since March), but was partially compensated by an increase in the production of sunflowerseed oil in the 2nd quarter of 2022. In the 2nd quarter of 2022, soybean oil exports decreased by 23% year-on-year and amounted to 9,191 tons, and in the 1st half of 2022 decreased by 15% year-on-year and amounted to 19,547 tons due to a decrease in the share of soybean meal in the feed recipe and its partial replacement with sunflowerseed meal (mainly in the 2nd quarter of 2022), as well as due to the difficulties of export logistics due to the war in Ukraine," the company notes.
As Ukrainian News Agency earlier reported, in 2021, MHP reduced sales of sunflowerseed oil by 37.4% or 123,580 tons to 207,240 tons compared to 2020.
The company ended 2021 with a net profit of USD 393 million, increasing revenue by 24.1%, or USD 461 million, to USD 2.372 billion.
On February 2, 2021, Mironivsky Hliboproduct officially changed its legal name to MHP.
MHP is a vertically integrated complex of enterprises producing chicken, hatching eggs, feed, engaged in crop production, cultivating 360,000 hectares of land, and producing chicken meat under the name Nasha Riaba.
Yurii Kosiuk is the founder of the company.
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