A large agricultural holding assessed the constraints on the grain market

General Director of Prodimex Agro Management Company Alexey Ugarov commented on the situation on the grain market

This week, a modernized section of the flagship Tulinovsky Elevator PJSC (part of the Prodimex group of companies) was opened in the Paninsky district of the Voronezh region. 

As a result of investing 230 million rubles, the one-time storage capacity increased from 21 thousand tons to 36 thousand tons. Due to the new auto-acceptance and transport lines, the speed of acceptance of vehicles increased from 1.5 thousand tons to 2.5 thousand tons per day. The modernization began in May 2021 and ended in July of this year.

Participating in the opening of the modernized site of the flagship Tulinovsky Elevator PJSC, Alexei Ugarov, General Director of Prodimex Agro Management Company, told RBC Chernozemye that Tulinovsky Elevator is now ready to accept about 180 thousand tons of grain. In his opinion, this is the best Prodimex elevator out of eight presented in the region.

Ugarov noted that it would be "unrealistic or very difficult" to ship grain to Europe this year, but the traditional export "has not gone away" - Egypt, Turkey and further on the list of friendly countries.

According to the International Food Policy Research Institute (IFPRI), compound fertilizer prices rose 125% year-over-year in January and climbed another 17% during the first quarter of 2022. The March report of the FAO (Food and Agriculture Organization of the United Nations), dedicated to the consequences of the conflict between Ukraine and Russia for global food security, names the reasons for this increase. Expectedly, these were supply disruptions, high transport costs after the introduction of export restrictions, as well as a sharp increase in freight rates for bulk carriers and container traffic caused by the COVID-19 pandemic . 

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Reference

The Prodimex group of companies is one of the largest domestic agricultural holdings and the leader of the sugar beet industry in Russia. Prodimex controls a land bank with an area of ​​900 thousand hectares in the most favorable regions of Russia for agriculture - in the Voronezh, Belgorod, Kursk, Lipetsk, Tambov and Penza regions, as well as in the Krasnodar and Stavropol Territories. The group of companies includes 14 sugar factories. The total volume of sugar production per year is over 1 million tons. Prodimex annually produces 7.5 million tons of crop products, including 1.8 million tons of grain, leguminous and oilseeds. The main owner of the Prodimex group of companies is Igor Khudokormov. The number of employees at the enterprises of the group of companies is 13 thousand people.