Kernel and Ukrzernoprom (MCB Agricole) underlined main risks
2011-11-15 17:02:02
Kernel and Ukrzernoprom stated that there are two main types of risks that currently exist in the agricultural sector: unpredictability in politics and
weather conditions. MCB Agricole stated that autmn sowings fell 4,000 hectares below target due to loaf rainfall, consequently raising fears for
winter crops. Kernel, on the other hand reported poor financial results, with 4% net profit fall in the first Quarter of the fiscal year, well below
expectations of the analysts. Chairman of Kernel, Andriy Verevskiy blamed government for imposing grain export duties, which were lifted only last
months. Duties significantly cut exports’ volume, forcing grain producers into stand-by position.
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