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World's Largest Sugar Producer Will Grow Beet in Ukraine

31 January 2012

UKRAINE - British company ED&F Man Holdings, and the Continental Farmers Group, which rents 21,000 ha of land in Lviv region (Ukraine's west), have agreed on creation of a joint stock enterprise for production of sugar beet in Ukraine.

"Continental Farmers Group (CFG) concluded an agreement on the joint stock enterprise with ED&F Man for long-term production and supply of sugar beet for a sugar refinery, possessed by ED&F Man in Mykolayiv region (Ukraine's south)," a statement from CFG reads.

The agreement should receive permit of the Antimonopoly Committee of Ukraine.

Continental Farmers Group will be responsible for growing and harvesting of sugar beet and other crops, which will be grown on the land and possessed by the joint stock company.

The companies hope to get a considerable yield of beet by 2014, at the same time, all the products will be supplied by ED&F Man on long-term contracts.

ED&F Man Holdings, in addition to sugar, also produces coffee, biofuel and a number of other agricultural products.

Continental Farmers Group is engaged in production of agrarian cultures and has grain storage capacities at 78,000 tons.

Continental Farmers Group is in Ukraine since 2006, it is also engaged in production of agricultural products in Poland, where it has 2,700 ha of land.

TheCropSite News Desk

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