Rusagro's revenue in the second quarter increased by 20%

“In the second quarter of 2024 , the consolidated revenue of Rusagro before inter-segment eliminations amounted to 72.263 billion rubles. Compared to the second quarter of 2023, the figure increased by 20%,” the statement says.

Based on the results of the first half of 2024, the figure increased year-on-year by 30% - to 142.717 billion rubles. As the company noted, revenue increased mainly due to increased production volumes in the oil and fat business and the consolidation of the NMZHK group of companies.

In the second quarter of 2024, the production of crude vegetable oil reached 289 thousand tons, which is 2.1 times higher than the same period of the previous year. Pork production in live weight decreased by 8% and amounted to 79 thousand tons. Volumes decreased due to the ASF outbreak in 2023 and subsequent measures to eliminate production risks in the Primorsky Territory. SUGAR production in the second quarter increased by 54% - to 54 thousand tons.

The volume of sales of grain crops in the second quarter decreased by 3% - 191 thousand tons. The reduction in wheat sales by 9% was due to higher sales volumes in the first quarter in order to free up storage capacity for the new harvest. Corn sales decreased by 16% due to an even distribution of sales volumes within the sales plan, Rusagro explained.

In addition, sales of oilseeds in the second quarter decreased by 52% compared to the same period in 2023 - to 53 thousand tons. The decrease in sales is due to higher inventories at the beginning of the second quarter of 2023 due to unfavorable weather conditions for harvesting in the fall of 2022, the company added.

"Rusagro" is one of the leading agricultural holdings in RUSSIA, occupying a leading position in sugar production, pig farming, crop farming and fat and oil business. The group's land bank is 685 thousand hectares.

The main assets of the agricultural holding are located in the Belgorod, Tambov, Voronezh, Kursk, Oryol, Sverdlovsk, Samara, Ulyanovsk, Saratov, Orenburg, Nizhny Novgorod, Volgograd, Tula regions, in the Republic of Bashkortostan and the Primorsky Territory.

The company sells products in more than 80 regions of Russia and more than 49 countries around the world.