IMC harvested a record crop of grains and oilseeds in 2018
In 2018, IMC harvested 856 thou. tons of grains and oilseeds, which is 27% more than the harvest of 2017.
A record corn yield of 11.1 t/ha (+22% vs. 2017 and 44% higher than the average corn yield in Ukraine in 2018) was the main driver of the achieved result. Sunflower yielded 3.5 t/ha (+21% vs. 2017 and 59% higher than the average sunflower yield in Ukraine in 2018), soybeans — 3.0 t/ha (+30% vs. 2017 and 20% higher than the average yield of soybeans in Ukraine in 2018).
In 2019, the IMC plans to preserve the existing crop mix: corn — 56% of the landbank, sunflower — 18%, wheat — 11%, and soybean — 9%.
The company plans to invest in its development in 2019 about USD 5 million, mainly in modern agricultural machinery.
Also in the current year, IMC will continue implementing the strategy on reducing the company's debt. IMC completed the year 2018 with a total debt of USD 58.7 million. It is planned to reduce the company's total debt to USD 47 million by the end of 2019.
In late November 2018, IMC reported on the harvesting campaign results. Over 762 thou. tons of corn were harvested on 68.4 thou. hectares with a gross yield of 11.1 tons per hectare.