MHP reduced soybean oil export by 20% in Q3 2017

Myronivsky Hleboproduct (MHP) reduced the export of soybean oil by 20% to 8.23 thousand tons (10.31 thousand tonsin Q3 2016) in Q3 2017.

According to the company's report, soybean oil export sales were at 8,225 tons, 20% lower year-on-year, and accumulatively for 9M 2017 —22,530 tons, 7% lower year-on-year, as a result of improvement in conversion ratio.

In Q3 2017, MHP’s sales of sunflower oil decreased by 14% to 76,811 tons compared to 89,600 tons in Q3 2016, mainly due to the increased oil content in sunflower cake and improvement in conversion ratio. Sunflower oil exports constituted 243,826 tons, which is 4% lower year-over-year.

"The Company considers vegetable oils exports as one of the “natural hedge” routes accumulating additional hard currency revenues and protecting the Company from volatilities in local currency," the report informs.

Reference: MHP exported 176.02 thousand tons of poultry meat in 9M 2017, which is 23% more than in the same period last year (9M 2016 — 142.79 thousand tons).