News 876 views update:Mar 9, 2016

MHP reports strong results for first half of the year

Despite the political crisis and the ongoing armed conflict in the country, the largest poultry producer in Ukraine, agricultural holding MHP has reported strong operational figures for the first half of the year.

Thus, company sales volume of poultry meat has increased by 23% in the second quarter of 2014, compared to the same period in 2013. Overall volume for the first half of 2014 was also 23% higher compared to the same period of 2013. Increase in sales is mainly attributed to growth of domestic sales, while export sales in the second quarter of 2014 were slightly lower compared to 2013 level.

Most exports, previously aimed at Customs Union counties (the Russian Federation, Belarus and Kazakhstan) were redirected to Middle East, Northern Africa and some CIS countries.

The reason of the rise of the demand for poultry meat in Ukraine can be explained citizens opting for cheaper types of meat. For instance, the statistic services have indicated that the demand for pork and beef in the first half of the year has dropped. Also the sales of pork and beef of MHP according to the company's report has fall by 5% year on year.

Also the company has enjoyed the rising prices for poultry on the domestic market, which since the beginning of the year jumped by 10%. Experts attributed this fact to the devaluating of the Ukraine national currency – hryvia, which appeared to be very strong in the context of the political crisis.

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