Ukraine’s MHP raises chicken production
Company to announce earnings in November
Ukraine’s Myronivsky Hliboproduct (MHP) says its poultry division has recorded good results this year, with the company set to achieve a good set of financial results for the first nine months of this year. These will be achieved as a result of a high level of vertical integration, growing meat processing volumes and high demand for poultry meat in Ukraine. MHP said it was able to sell nearly all of its chicken production during the January to September period.
MHP's poultry meat production this year is forecast at 280,000 tonnes, as compared to 225,000 tonnes in 2008. The company sold 192,900 tonnes of chicken meat to external consumers in the first nine months of this year, a year-on-year increase of 19%, but third quarter sales were a substantial 47% higher year-on-year. These much higher third quarter sales were partly due to phase two of the flagship Myronivka poultry farm reaching full production capacity in the quarter. The farm now has an annual production capacity of around 200,000 tonnes. MHP expects is annual poultry production capacity to rise to 330,000 tonnes in 2010.
The company noted it was able to slightly reduce its production cost per kilo of poultry meat in the first nine months of this year by using its own produced feed materials in chicken feed. This was achieved despite an overall increase in utility prices.