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ABOUT THIS REPORT

2

HOW TO READ THIS REPORT?

AGRIBUSINESS IN 2015

PAGES 3-9

CROP PRODUCTION

PAGES 10-25

ANIMAL PRODUCTS

PAGES 26-31

PROCESSED FOODS

PAGES 32-36

COMPANIES AND INFRASTRUCTURE

PAGES 37-46

The aim of this report is to show the scale of the agricultural sector in Ukraine by analyzing market trends and highlighting potential areas of its growth.

Infographics contained in this report provide a clear and concise illustration of the data that it contains.

We have used color coding and imagery to illustrate each type of agricultural product that is mentioned. Grain-related products are colored in shades of yellow, seed-based products are colored in green and meat-based produce is shown in shades of blue.

DATA SOURCES:● Baker Tilly● Latifundist Media (Latifundist.com, Elevatorist.com,

Agropolit.com) ● Ministry of Agrarian Policy and Food of Ukraine (Minagroprod)● State Statistics Service of Ukraine (State Statistics)● Food And Agriculture Organization (FAO) ● United States Department of Agriculture (USDA) ● AgroChart.com● AR-group Agency ● State Enterprise «Ukrainian Sea Ports Authority»● Ministry of Finance ● Ministry of Infrastructure● Organic Federation of Ukraine● Ukrainian State Service of Geodesy, Cartography and Cadastre

(Derzhheokadastr)● AEQUO

Please keep in mind that data may vary because every organization has its own estimation methods.

Potato

Nuts

Sugar beet

Corn

Barley

Crop Production

Wheat

Soy

Rapeseed

Grapes

Sunflower

Animal Products

Milk

Ham

Fish

Lamb

Eggs

Honey

Beef

Poultry

Other Types of Meat

Processed Foods

Processed meat

Beer

Soy Oil

Liquid Dairy

Cheese

Flour

Baked foods

Sunflower Oil

Rapeseed Oil

Butter /Margarine

Sugar

CannedVegetables

Juice

Vodka

Bread

AGRIBUSINESS IN UKRAINE

AGRIBUSINESSIN 2015

THE ROLE OF AGRIBUSINESS IN UKRAINE’S AND AND WORLD ECONOMY

4Source: State Statistics, Ministry of Finance,Agrochart.com

$14,6bln

240bln UAH

of Ukraine’s totallandmass

38%

of Ukraine’s exportsin 2015

12%

of Ukraine’s GDPin 2015

The Agriculturalsector covers

Agricultural productsaccounted for

Agricultural productionmade up

70%

Ukraine's place on a world food market1

12

3

5

78

Cultivationof sunflowers

Productionof sunflower

oil

Exportof sunflower

oil

Exportof corn

Exportof nuts

Exportof grains

Exportof wheat

Cultivationof wheat

Cultivationof barley

Exportof barley

Productionof honey

Exportof poultry

Exportof rapeseed

4

Cultivationof nuts

Cultivationof soy

Exportof soy

Cultivationof corn


¹ Data for 2015/16 marketing years

41,5million ha

5Source: State Statistics, Minagroprod

BASIC ITEMS OF AGRICULTURAL PRODUCTION, MILLION TONS

¹ To recalculate the average weight of one egg is taken — 55 g

14,9Аnimal

products

3,3 Meat (in live weight)10,7 Milk 0,9 Eggs1

60,1Grains

8,3 Barley 2,0 Other23,3 Corn26,5 Wheat

27,1Industrial

crops

11,2 Sunflower 3,9 Soy 1,7 Rapeseed10,3 Sugar beet

32,6Fruit

and vegetables

20,8 Potato 9,2 Vegetables (other) 2,2 Fruit, berries 0,4 Grapes

Ukraine produces 7 times more grains than the global production of coffee.

The country’s entire grain harvest of 2015 (60,1 million tons) would fill 892 000 carriages with a total length of 11 000 km! That’s the approximate distance between Kiev and Rio de Janeiro!


UKRAINIAN AGRICULTURAL PRODUCTS

6Source: own calculations basedon Information from State Statistics

¹ Data on export and import of production are calculated for 2015/16 marketing years

7,6 5,6 4,1 150 n/a 2,2 47 10 n/a 15 24 7,9 n/a 0,02 69 2,2 28 1,8 23 0,40

3,8 4 700 2 350 230 n/a 1 437 5992 43 26 0,06 60 60 36 1,416 928 16 400

Import,k tons

Production,k tons

Export,k tons

15 81 8,8

9 2008 300

3 9003 280

2 1501 700

1 400920

500400

400200

20064 4026 500

23 30020 800

11 20010 680

Wheat1 Corn1 Potato Sunflower1 Milk Vegetables(other)

Barley1 Soy1 Meat Fruit,berries

Rape-seed1

Sugar1 Eggs Oats1 Rye1 Grapes Buck-wheat1

Millet1 Honey Rice1


TOTAL VALUE OF EXPORTS

7¹ Data on export of agricultural products and income from it are

calculated for 2015/16 marketing years2 To recalculate the average weight of one egg is taken — 55 g

Export,k tons

16 400

16 928

4 700

4 384

2 350

1 437

233

131

59

36

81

3 369

2 676

2 585

850

788

570

378

214

77

36

84

Corn1

Wheat1

Sunflower Oil

Soybeans1

Rapeseed1

Meat

Dairy

Eggs

Honey

Sunflower Seeds1

Barley1

Total value of exports,$ millions


Source: own calculations basedon Information from State Statistics

8Source: State Statistics, Minagroprod¹ Data excludes temporarily occupied territory of the AR of

Crimea, Sevastopol city and zone of antiterrorist operation.

TRENDS IN AGRICULTURAL PRODUCTION

63,1 mln tons

63,9 mln tons

— 2013

46,2 mln tons — 2012

— 2014

60,1 mln tons — 2015

46,2 63,1 63,9 60,1

Grains

18,4 10,8 15,7 10,3

8,4 11,1 10,1 11,2

23,3 22,3 23,7 20,8

10,0 9,9 9,6 9,2

2,2 2,4 2,4 2,3

Milk

11,4 11,5 11,1 10,6

Eggs2

1,1 1,1 1,1 0,9

Potato Sunflower Sugar beet Vegetables Meet

Crop production, million tons

Animal products, mln tons

Vinnytsia obl.

Volyn obl.

Donetsk obl.

Zhytomyr obl.

Zakarpattia obl. Ivano-

Frankivsk obl.

Kyiv obl.

Kirovohrad obl.

Lugansk obl.

Lviv obl. Poltava obl.

Sumy obl.

Ternopil obl.Kharkiv obl.

Kherson obl.

Khmelnytsky obl.

Cherkasy obl.

Dnipropetrovsk obl.Chernivtsi obl.

Chernihiv obl.

Odesa obl. Mykolaiv obl.Zaporizhia obl.

Rivne obl.

In 2000In 2015

k tons7 000

5 000

3 000

2 000

1 000

200

Agricultural production,k tons

In the last 15 years, the biggest growthin production was in Mykolaiv and Poltava regions (more than 60%).



INTERNATIONAL TRADE

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

0,86 1,12 1,41 1,5 1,72 2,19 2,88 3,65 6,18 4,24 4,43 6,06 8,26 8,09 7,69 5,55

Export

Balance

Turnover

Import

0,120,3

0,50,08 0,23

0,05

0,27

0,51

0,83

0,26

0,74

1,9 1,432,24

2,55

Dynamics of trade with the EU, $ bln

1

2

3

4

5

Main importers of Ukrainian agricultural products, $ bln

Egypt1,03

Other0,97

Other2,21

Italy0,59

Poland0,48Netherlands0,34

Spain0,58

Russia0,31

Other1,19

China1,24

Other3,13

Saudi Arabia0,47

Turkey0,76

India1,10

-0,19

Asia 6,7

CIS 1,5

14,6

Africa 2,0

EU 4,2

Turnover, $ bln

<3 3–5 5–7 >7

Ukraine’s biggest export markets are Europeand Asia.

Exports to China increased by 50% in 2015, makingit the biggest importerof Ukraine’s agricultural products.



CROP PRODUCTION

11Source: State Statistics, State Heokadastr,Latifundist.com

LAND BANK OF UKRAINE

¹ Data excludes temporarily occupied territory of the AR of Crimea, Sevastopol city and zone of antiterrorist operation.

Total area of arable land, million ha

2

4

6

8

10

12

14

16

18

1990 1995 2000 2005 2010 2015¹

Grains

Sugar beet

Sunflower

PotatoForage crops

654

430

390

370

261

250

180

137

127

122

120

108

107

100

97

88

83

83

80

75

Top 20 agricultural holding companies in Ukraine, k ha

Arablelands

32,54

Pastures5,43

0,89Permanentcropland

2,41Grasslands

1,22Other

0,23Fallowlands

Non-agriculturallands

17,63

Farmers’estates10%

Other formsof ownership

75%

UkrLandFarming

Agroprosperis (NCH)

Kernel Group

MHP

Ukrainian Agrarian Investments

Astarta-Kyiv

Mriya Agro Holding

Sintal Agriculture

Industrial Milk Company

Agrain

Ukrprominvest Agro

AgroGeneration

Agroton

Ukragroprom

Privat-AgroHolding

HarvEast

TAS Agro

NIBULON

Svarog West Group

UkrAgroCom-Germes-Trading

15.06.2016

Top 100agricultural

holdingcompaniesin Ukraine

15%

CROP PRODUCTION

Structureof arable

lands

42,72million ha

Totallandbankof Ukraine

60,35million ha


REGIONAL SPECIALIZATION IN CROP PRODUCTION

1 474 Vinnytsia obl.

437Volyn obl.

907Donetsk obl.

683Zhytomyr obl.

143Zakarpattia obl.

285Ivano-Frankivsk obl.

1 048Kyiv obl.

1 620Kirovohrad obl.

728Lugansk obl.

535Lviv obl.

1 578Poltava obl.

1 025Sumy obl.

718Ternopil obl. 1 622

Kharkiv obl.

1 264Kherson obl.

1 004Khmelnytsky obl.

1 091Cherkasy obl.

1 853Dnipropetrovsk obl.252

Chernivtsi obl.

1 033Chernihiv obl.437

Rivne obl.

1 494Mykolaiv obl.

1 742Odesa obl.

1 554Zaporizhia obl.

The general structure of crops sowing

Wheat28%

Barley12%

Soy9%

Vegetables2%Rapeseed

3%

Sugar beet1%

Fruit,berries1%Sunflower

22%Potato5%

Corn17% 50

100200

600

1000

k ha

GrainsVegetables

Industrialcrops

535Lviv obl.

Area of crop production,k ha¹

CROP PRODUCTION

¹ Data excludes temporarily occupied territory of the AR of Crimea, Sevastopol city and zone of antiterrorist operation.

10

29,2

36,4

29,7

21,8

57,153,4

38,8

23,219,9

25,9

17,0 18,9

7,6 10,0

20,0

29,5

20

30

40

50

60


DYNAMICS OF CROP YIELDS (1990–2015), CWT/HA

205,0

8,5

435,8

25,9 14,3 21,6 13,0 18,4

120,2

206,1

96,0

161,4

29,8

104,5

Wheat RyeBarleyCorn Millet BuckwheatRice

50

100

150

200

250

300

350

400

450

50

100

150

200

250

300

350

400

450

Sunflower SoyRapeseedSugar beet PotatoVegetables Fruit, berries

Grains

Fruit and vegetablesIndustrial crops

1995 2000 2005 2010 2015

In the last 10 years, the rapeseed, sugar beet and corn yields have increased twofold.

CROP PRODUCTION

Oats

14Source: Agrochart.com, FAO

STRUCTURE OF GRAIN PRODUCTION, MILLION TONS

200

400

600

800

1 000

100

300

500

700

900

1961 1963 1965 1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015

Wheat

Corn

Rice

Barley

SorghumOatRye

China

1

EUUSA

2

India

3

Brazil

4

Russia

5

Ukraine

6

Canada

7

Argentina

8

Indonesia

9 10

493,5

507,5

439,5

428,9

329,2

311,4

244,4

228,3

102,1

100,1

100,2

99,0

64,2

60,5

51,4

53,3

47,6

47,0

35,0

44,6

Top 10 global producers of grains, million tons

493,5 k tons

507,5 k tons

— 2014/15

— 2015/16

Out of all grain products, corn has been a market leader in production for the past 20 years.

CROP PRODUCTION

BIGGEST CORN PRODUCERS

15Source: Agrochart.com

361,1 million tons

345,5 million tons

— 2014/15

351,3 million tons — 2013/14

— 2015/16

USA

1

China

2

Brazil

3

EU

4

Argentina

5

26,0

28,7

27,0

Mexico

6

22,9

25,5

25,0

Ukraine

7

India

8

Canada

9

Russia

10

USA 35,75%China 23,24%

8,02

% Bra

zil

6,00% EU

2,79% Argentina

2,59% Mexico

2,41% Ukraine

2,17% India

1,41% Canada

1,36% Russia

14,25% Other

12

3

4

5

8

10

6

7

9

Top 10 corn-producing countries

How much corn is producedby the Top 10

351,3361,1

345,5

218,5

215,6

224,6

80,0

85,0

77,5

64,9

75,8

58,0

30,9

28,5

23,3

24,3

24,2

21,0

14,2

11,5

13,6

11,6

11,3

13,2

In 2015 Ukraine produced more corn than the joint totals of Russia and Indonesia.

CROP PRODUCTION

156,8 million tons

160,0 million tons

— 2014/15

144,6 million tons — 2013/14

— 2015/16

EU

1

China

2

India

3

Russia

4

USA

5

Canada

6

Ukraine

7

Pakistan

8

Australia

9

Turkey

10

144,6

156,8

160,0

121,9

126,2

130,2

93,5

95,9

86,5

52,1

59,1

61,0

58,1

55,1

55,8

37,5 29,4

27,6

22,3

24,8

27,3

24,2

26,0

25,1

25,3

23,1

24,5

18,8

15,3

19,5


EU 2

1,8%

China 17,7%

India 11,8%

8,3%

Rus

sia

7,6% USA

3,8% Canada3,7% Ukraine

3,4% Pakistan

3,3% Australia

2,7% Turkey

15,9% Other

1

52

3

9

810

4

7

6

1

Top 10 wheat-producing countries

How much wheat is producedby the Top 10

In 2015 Ukraine produced almost as much grainas Canada, which ranks sixth in terms of production

CROP PRODUCTIONBIGGEST WHEAT PRODUCERS

EU

1

Russia

2

Ukraine

3

Australia

4

Canada

5

Turkey

6 7 8

Iran

9

Morocco

10

59,7

60,6

61,3

15,4

20,0

17,1

7,6 9,5 8,8 9,2 8,0 8,710

,27,1 8,2

7,3 4,0 7,4

2,8 3,2 3,82,7 1,7 3,5

17

EU 41,3%

Russia 11,5%5,

9% U

krai

ne

5,9%

Aus

tralia5,5% Canada

5,0% Turkey

3,3% USA

3,1% Argentina

2,6% Iran

2,4% Morocco

13,6% Other

USA

4,7 4,0 4,7

Argentina

4,8 2,9 4,9

81

74

9610

2

3

5

Ukraine is one of the three biggest producers of barley.

60,6 million tons

61,3 million tons

— 2014/15

59,7 million tons — 2013/14

— 2015/16

BIGGEST BARLEY PRODUCERS

Top 10 barley-producing countries

How much barley is producedby the Top 10

CROP PRODUCTION

Source: Agrochart.com

1

3

8

2 4

9

10

65

7

Egyp

t 761

Spain 604

China 567

Italy 400

Saudi Arabia 368

Thailand 340328

Sout

h K

orea

279

Indo

nesi

a

256

Nethe

rland

s

177 Israel

1 970 Other

Top 10 importersof Ukrainian grains,

$ million

451

368

116

Libya70

32

25

96

340

421

340

279

179

221

410

236

219

1 011

1 237

Saudi Arabia

China

Japan

Algeria

Other

China

Egypt

Spain

Netherlands

Italy

Other

Egypt

Thailand

Indonesia

South Korea

Bangladesh

Other

Barley$ 707 million

Wheat$ 2 676 million

Corn$ 2 668 million

Egypt

ChinaSpain Italy

SaudiArabia

SouthKorea

Netherlands

Israel

Thailand

Indonesia

UKRAINE’S GRAIN EXPORTS AND REVENUES 2015/16, $ MILLIONS

18

CROP PRODUCTION

Source: own calculations based on Information from State Statistics

116,0

116,1

99,6

98,6

65,8

60,0

57,7

53,7

34,1

30,1

31,9

29,5

22,5

23,5

16,3

17,0

12,0

12,9

11,5

11,4

19

50

100

150

200

250

300

350

Cotton seeds

Peanut

Palm nut

Soybean

Sunflower seeds

1961 1963 1965 1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015

USA

1

ArgentinaBrazil

2

China

3

EU

4

India

5

Canada

6

Ukraine

7

Russia

8

Indonesia

9 10

Top 10 global producers of oilseeds, million tons

116,0 million tons

116,1 million tons

— 2014/15

— 2015/16

In the last 50 years, there has been a visible trend in the growth of soybean production.

Source: Agrochart.com, FAO

CROP PRODUCTIONSTRUCTURE OF OILSEEDS PRODUCTION, MILLION TONS

Ukraine 28,8%

Russia 23,4%

19,3%

EU

6,4% Argentina

6,4% China

3,4% USA

2,6% Turkey

1,9% South Africa

1,4% Kazakhstan

1,1% Serbia

5,5% O

ther

1

65

4

9

8

7

2

110

3

Ukraine

1

EURussia

2

Argentina

3

China

4

USA

5

Turkey

6

South Africa

7

Kazakhstan

8

Serbia

9 10

11,6

10,2

11,3

9,8 8,4 9,2

9,1 9,0 7,6

2,1 3,2 2,5

2,4 2,5 2,5

0,9 1,0 1,3 1,4 1,2 1,0

0,8 0,7 0,70,6 0,5 0,5 0,4 0,5 0,5


Almost the third part of world sunflower seed productionis covered by Ukraine.

10,2 million tons

11,3 million tons

— 2014/15


— 2015/16

Top 10 producers of sunflower

How much sunflower seedis produced by the Top 10

CROP PRODUCTIONBIGGEST PRODUCERS OF SUNFLOWER

91,4

106,9

106,9

86,7

97,2

96,5

53,4

61,4

56,5

12,0

12,2

11,6

8,2 8,1 9,0 9,5 8,7 7,05,4 6,1 6,2

2,8 3,9 3,9 2,9 2,7 3,1 2,4 3,3 2,0

21

USA

1

ArgentinaBrazil

2

Сhina

3

India

4

Paraguay

5

Canada

6

Ukraine

7

Bolivia

8

Uruguay

9 10

USA 34,1%B

razil 31,0%

18,0% Argentina

3,7% China

2,4% India

2,8% Paraguay

2,0% Canada

1,3% U

kraine1,0%

Bolivia0,6%

Uruguay

3,1% O

ther1

4

2

3

6

5

10

9

8

7

More than 80% of soy is produced by the US, Brazil and Argentina

106,9 million tons

106,9 million tons

— 2014/15


— 2015/16

Top 10 producers of soy

How much soy is producedby the Top 10

CROP PRODUCTIONBIGGEST SOY PRODUCERS


21,3

24,6

22,0

18,6

16,4

17,2

14,5

14,8

14,3

6,7 5,1 5,9

3,8 3,5 3,0

2,4 2,2 1,7

1,0 1,1 1,3 1,3 1,3 1,0

0,3 0,3 0,30,7 0,7 0,3

22

EU

1

ChinaCanada

2

India

3

Australia

4

Ukraine

5

USA

6

Russia

7

Iran

8

Belarus

9 10

110

34

97

5

8

6

2

EU 32,3%Canda 25,2%

21,0% China

8,6% India

4,4% Australia

2,6% U

kraine1,9%

USA

1,5% Russia

0,5% Iran

0,4% B

elarus1,6%

Other

80% of Ukrainian rapeseed is exported.

24,6 million tons

22,0 million tons

— 2014/15


— 2015/16

Top 10 producers of rapeseed

How much rapeseedis produced by the Top 10

CROP PRODUCTIONBIGGEST PRODUCERS OF RAPESEED


1

210 36

4

8

7

9

5

23

UKRAINE’S OILSEED EXPORTS AND REVENUES 2015/16, $ MILLION

Soybeans$ 809 million

Rapeseeds$ 570 million

Sunflower seeds$ 36,1 million

Sunflower oil$ 3 369 million

1 022

192

102 Belgium

745439

109

418

1 250

181665439

290

268

121

341

127

France

Portugal

PakistanNetherlands

Other

7,26,6

Germany4,52,31,1

14,4

PortugalTurkey

GeorgiaNetherlandsOther

India

China

Spain

Iran

Turkey

Turkey

Other

Iran

Egypt

Lebanon

Greece

Other

India

Iran

China

Turkey

Egypt

France

Portugal

Netherlands

Italy

Spain

Inda

i 1 0

24

Turkey 436

China 420

Netherlands 330

316

Fran

ce

288

Spai

n

252

Egyp

t201 Italy

187 Iran88 Portugal

1 240 Other

Top 10 importersof Ukrainian oilseeds,

$ millions

CROP PRODUCTION

Source: own calculations based on Information from State Statistics

24Source: State Statistics

PRODUCTION OF FRUIT AND VEGETABLES IN UKRAINE

Dynamics of fruit and vegetable production, million tons

Production of vegetables, k tons

2

4

6

8

10

1995 2000 2005 2010 2011 2012 2013 2014 2015

Vegetables

Fruit

Top 10 fruit and vegetable exports, k tons

Production of fruit, k tons

Tom

atoe

s 2 27

4,4

Cabbage 1 677,3

Cucumbers 958,7

956,

5 On

ion

834,6 Beet

822,9 Carrot

565,1 Pumpkin

496,5 Courgettes176,5 Garlic

167,2 Pepper284,3 O

ther

9 214k ton

Apples 1 179,6

192,

9 So

ur ch

errie

s

184,0 Plum

170,6 Pear

115,1 Nuts

76,6 Sweet cherries

64,0 Strawberry

30,4 Raspberry

25,5 Currant

15,6 Peach

98,5 Other

2 153k ton

Tomatoes23,31

Onion18,85

Cabbage2,40

58,92 Nuts

29,32 Watermelon

4,95 Apples

1,33 Strawberry

0,88 Cranberries, blueberries

5,52 Cucumbers

2,49 Carrot

Half of Ukrainian nuts are exported.

Ukraine takes the third place in frozen berries production.

CROP PRODUCTION

251 Data on Australia in 2009, on the USA in 2008 and on Uruguay in 20062 Producers, processors, traders

ORGANIC PRODUCTION IN UKRAINE

13 Vinnytsia obl.

6Volyn obl.

14Zhytomyr obl.

3Zakarpattia obl.


36Kyiv obl.

11Kirovohrad obl.

0Lugansk obl.

11Lviv obl.

10Poltava obl.

3Sumy obl.

3Ternopil obl.

18Kharkiv obl.

13Khmelnytsky obl. 6

Cherkasy obl.

7Dnipropetrovsk obl.3

Chernivtsi obl.

12Chernihiv obl.8

Rivne obl.

7Zaporizhia obl.

17Kherson obl.

2Donetsk obl.

28Odesa obl. 5

Mykolaiv obl.

8

Total area and number of organic producersin Ukraine (2004 – 2014), k ha

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

164,4

239,5 240,0 242,0 242,0 249,9270,0 270,2 270,2 270,3 272,9

393,4 400,8

Countries with the biggest organicfarming areas, million ha

Australia1

12,0Argentina3,8

USA1

1,9China1,9

Spain1,6Italy1,1

Germany1,0France1,0Uruguay1

0,9 Ukraine0,4

India1,1

The total number of operators of organic production2

(Including operators in transition)06.2016

Organic production

Other

The average area of a farm, k ha

1,5 2 2,5 3 3,5

Number of organic producers

31 69

69

70 72 80 92 118 121 142 155 164 175 182

CROP PRODUCTION

Source: Federation of OrganicMovement of Ukraine

ANIMAL PRODUCTS


27

ANIMAL PRODUCTS IN UKRAINE

Regional breakdownof animal products, k tons

Vinnytsia obl.

Volyn obl.

Donetsk obl.

Zhytomyr obl.

Zakarpattia obl.

Ivano-Frankivsk obl.

Kyiv obl.

Kirovohrad obl.

Lugansk obl.

Lviv obl.

Poltava obl.

Sumy obl.

Ternopil obl.Kharkiv obl.

Kherson obl.

Khmelnytsky obl.

Cherkasy obl.

Dnipropetrovsk obl.

Chernivtsi obl.

Chernihiv obl.Rivne obl.

Zaporizhia obl.

Odesa obl.

Mykolaiv obl.

k tons800

500

250150

50305

Beef

Pork

Poultry

Honey

Eggs of all kinds

Milk

Other

Total production of meat in Ukraine, k tons

Pork760

Lamb14Rabbit13Horsemeat8

Poultry1 144

Beef 384

5

10

15

20

25

1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016

Cattle

Pigs

Goats and sheep

Total number of livestock, million animals

ANIMAL PRODUCTS

Source: State Statistics, Minagroprod¹ Data exclude temporarily occupied territory of AR Crimea,

Sevastopol city and zone of antiterrorist operation.

28

MEAT PRODUCTION IN UKRAINE: BASIC INDICATORS

41%MHP

9%ComplexAgromars

5%Agro Oven

5%APK Invest

4%

The groupof companies

«Dnipro»

3%

Volodymyr-Volynsk poultry

farm

1%

Farm Ular

1%

AgroRos

Top 10 producers of meat in Ukraine (% of market share)

3%Pan Kurchak3%

Globino meatprocessing plant

Beef

Pork

Lamb

Chicken

Other meat

Exports and imports of meat in 2015, k tons

Export Import

32,1

161,3

27,2

0,012

0,007

12,085,1

3,7

1,2

61,3

Ukraine exports poultry meat to more than 70 countries

ANIMAL PRODUCTS

Source: State Statistics

29

DAIRY PRODUCTION IN UKRAINE

838,4 Vinnytsia obl.

425,2Volyn obl.

578,4Zhytomyr obl.

358,1Zakarpattia obl.

474,0Ivano-Frankivsk obl.

446,3Kyiv obl.

310,6Kirovohrad obl.

158,7Lugansk obl.

571,2Lviv obl. 794,5

Poltava obl.

417,6Sumy obl.

460,7Ternopil obl.

524,5Kharkiv obl.

581,4Khmelnytsky obl.

530,1Cherkasy obl.

344,6Dnipropetrovsk obl.294,0

Chernivtsi obl.

552,6Chernihiv obl.

436,8Rivne obl.

260,7Zaporizhia obl.

300,0Kherson obl.

227,9Donetsk obl.

5

10

15

20

25

1990 1995 2000 2005 2010 2011 2012 2013 2014 2015

Sale of milk to manufacturing plantsby all categories of farms, mln tons

Dairy production and livestock number

Milk production (yield), million tons

8,38 7,53 4,96 3,64 2,63 2,59 2,56 2,55 2,51 2,26

The number of cows by theend of the year, mln animals

8,57

45,5

2,5

The number of cows— 20 k animals

<300

300–400

400–500

500–700

>700

Milk, k tons480

01.2016

343,8Mykolaiv obl.385,3

Odesa obl.

Vinnitsa and Poltava regions are the largest producers of dairy in Ukraine.

The amount of milk per cow is always increasing. In 2015 it was 4,64 thousand kg.

ANIMAL PRODUCTS


30

FISHING IN UKRAINE

Dynamics of annual catch, k tons

1 Data has been deleted to ensure the compliance of The Law of Ukraine «About State Statistics» regarding privacyof information

2 Data excludes temporarily occupied territory of the AR of Crimea, Sevastopol city and zone of antiterrorist operation.

Structure of Ukraine’s catch,and areas where it was caught, k tons

38,5Rivers and lakes88,6

k ton

34,2Exclusive economic

zone of Ukraine(nautical)

Other1

50

100

150

200

250

300

350

400

450

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20142 20152

Other biological resources

Fish

Water resources include organisms that inhabit the sea such as fish, crustaceans, mollusks, sea cucumbers and eels.

ANIMAL PRODUCTS


31

BEEKEEPING IN UKRAINE

11,5

11,8

7,8 7,6

7,0 5,6

1,8 0,3

0,6 0 0,2 0

Germany

1

PolandUSA

2

1,6 1,4

Spain

3

1,4 1,7

Turkey

4

0,6 1,3

Latvia

5

1,8 1,2

Slovakia

6

Austria

7

Russia

8

Belarus

9 10

11,5 k tones

11,8 k tones

— 2014

— 2015

Top 10 importers of Ukrainian honey, k tons

Dynamics of honey production, k tons

10

20

30

40

50

60

70

80

1960 1980 1995 2010 2012 2013¹ 2015¹

4,74 Vinnytsia obl.

0,26Volyn obl.

7,93Zhytomyr obl.

0,21Zakarpattia obl.

1,07Ivano-Frankivsk obl.

0,53Kyiv obl.

3,42Kirovohrad obl.

2,02Lugansk obl.1

0,69Lviv obl. 3,62

Poltava obl.

2,96Sumy obl.

0,81Ternopil obl.

3,37Kharkiv obl.2,49

Khmelnytsky obl.1,95

Cherkasy obl.

4,98Dnipropetrovsk obl.

0,70Chernivtsi obl.

1,11Chernihiv obl.

0,73Rivne obl.

4,79Zaporizhia obl.

0,85Kherson obl.

6,73Donetsk obl.1

1,82Odesa obl.

5,85Mykolaiv obl.

— 20 k families

<1 1–4 4–5 >5

Production of honeyin 2015, k tons4,74

Revenue from the export of honey

2015 2014

$ 84,3million

$ 93,4million

Over the last ten years, the production of honey in Ukraine has increased by 9,5 times.

ANIMAL PRODUCTS


PROCESSEDFOODS


33Source: AR-group Agency, Latifundist.com

PROCESSED FOODSPROCESSING INDUSTRY OF UKRAINE: PRODUCTION FACILITIES

Main areas of processingand leading industries,% of market share

14% PJSC Mironivsky Hliboproduct (MHP)

11% Ltd. Corporation ATB

10% Ltd. Globino Meat Processing Plant

5% Ltd. Ermak Gold

4% Ltd. Meat Processing Plant Yatran

Meat processing plants

11% Ltd. Terra Food

8% PJSC Vinnytsia Milk Plant Roshen

7% Corporation Milk Alliance

6% Ltd. Danon Ukraine

6% Group of Companies Almira

Dairy processing plants

Sugar factories

Vegetable oil processing facilities

Meat processing plants

Bakeries

Dairy processing plants

Data for 2014

Ukraine exports processed foods to 190 different countries. Milk to Jordan, baked goods to Miami, watermelons to Riga, beerto New Zealand and sour cream to the UAE.

34

BASIC PRODUCTS PRODUCTION VOLUME IN 2015

893161Poultry

Sunflower oil3 7153 9391

9708,8Milk

1311491Rapeseed oil

27427Pork

Soybean oil176154

2 167310Flour

465117Juice

2360,4Processed meat

2 17675Beer

10210Butter

4263,8Dairy products

Margarine1921,7

1 459115Sugar

14932Vodka

37376Baked goods

Cheese19211

1450,3

Cannedvegetables

1 23190Bread

3 7153 939 — Export, k tons

— Production, k tons

Export,50 k tons

Production,50 k tons

—

—

¹ Products of last year production are also exported

PROCESSED FOODS


35

SUGAR PRODUCTION IN UKRAINE

Main importers of Ukrainian sugar in 2015/2016

Top 10 producers of sugar in Ukraine 2015, k tons

Panda35,5

Astarta-Kyiv354,5

Agroprodinvest194,8

RadekhivSugar189,2

Svitanok110,5

Gals Agro59,3

Galychyna-Sugar43,0

GnedavskSugar Factory50,5

TeophipolSugar Factory

46,3

StarokonstiantynivSugar

22,8

Total area used forsugar beet cultivation,

k ha

Volume of sugarproduction,

million tons

Number of sugarprocessing plants

Sugar beet yield,cwt/ha

Sugar beet harvest,million tons

2010

2010

13,7

1,5

278,5

492

73

2011

2011

18,7

2,3

362,4

516

77

2012

2012

18,3

2,2

407,6

449

63

2013

2013

11,2

1,2

414,8

270

38

2014

2014

15,6

2,1

471,9

330

48

2015

2015

10,3

1,4

435,8

237

36

4,4 Kazakhstan

Export,k tons

Revenue,$ k

1,8 Moldova

1,2 Azerbaijan

1,2 Turkey 499

596

876

1 827

$ 3,8 million

8,6

Revenuegeneratedfrom exports

$ 46,8million

Quantityexported

114,8k tons

PROCESSED FOODS

Source: State Statistics, Latifundist.com

36

PRODUCTION OF SUNFLOWER OIL IN UKRAINE

1,0

2,0

3,0

4,0

1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015

4,33

4,66

3,37

3,53

3,18

2,98

1,14

1,14

0,73

0,60

0,47

0,42

0,29

0,26

0,17

0,26

0,16

0,16

0,15

0,15

Ukraine

1

EURussia

2

Turkey

3

Argentina

4

China

5

South Africa

6

USA

7

Serbia

8

Burma

9 10

Top 10 producers of sunfloweroil in Ukraine, million tons

Production of sunflower oil, million tons

Kernel28,9%

Agrokosm9,3%Vioil7,9%

MHP7,6%

Cargill5,4%

Pology Oil ExtractionPlant4,0%

Bunge3,6%

Other24,9%

DeltaWilmarCIS3,0%

ADM2,7%

CreativeGroup2,7%

Top 10 producers of sunflower oil in Ukraine

4,33 million tons

4,66 million tons

— 2014/15

— 2015/16

Ukraine produces more sunflower oil than any other country.

Ukraine exports sunflower oil to 117 countries.

97% of China’s imported sunflower oil was produced in Ukraine.

PROCESSED FOODS

Source: State Statistics, Latifundist.com

COMPANIESAND INFRASTRUCTURE


38Source: Elevatorist.com, Agrochart.com

COMPANIES AND INFRASTRUCTUREQUANTITY AND LOCATION OF UKRAINIAN GRANARIES

2 714 Vinnytsia obl.

480Volyn obl.

489Donetsk obl.

1 427Zhytomyr obl.

94Zakarpattia obl.


1 798Kyiv obl.

2 100Kirovohrad obl.

765Lugansk obl.

433Lviv obl. 3 508

Poltava obl.

2 017Sumy obl.

1 320Ternopil obl.

2 275Kharkiv obl.

1 600Kherson obl.

1 617Khmelnytsky obl.

1 814Cherkasy obl.

2 177Dnipropetrovsk obl.

231Chernivtsi obl.

1 800Chernihiv obl.

3 595Rivne obl.

1 472Zaporizhia obl.

2 100Mykolaiv obl.

3 179Odesa obl.

Top 10 Ukrainian companies by grainstorage capacity in 2015, million tons

SFGCU

1

KernelUkrLandFarming

2

MHP

3

NIBULON

4

Bunge

5

Mriya

6

ADM Trading

7

Agrotrade

8

IMC

9 10

3,75

2,66 2,60

1,701,60

0,730,60 0,60 0,56 0,55

— 5 elevators

<1 1–4 4–5 >5

Capacity, k tons480Rivne, Poltava, and Odessa regions have the biggest grain storage volume.

Source: State Statistics, SE «Ukrainian Sea Ports Authority»

Odesa SP

SP Uzhny

Mykolaiv SP

Izmail SP

Kherson SPIllichivsk SP

Reni SP

SSP Oktiabyrsk

30

0

0

574

10

01553138

0246

Skadovsk SP

SP Ust-Dunaisk

2 445

8 735 1 172

5 088 1 529

8 615 116

9549 763

39

VOLUME OF AGRICULTURAL GOODS TRANSPORTED THROUGH PORTS AND RIVERS

Seasonal export of grain and river navigation Top 10 port terminals in 2015, k tons Top 10 river terminals in 2015, k tons

TIS-Grai

n

Chornom

orsk G

T

NikaUkre

levato

rprom

Transb

alkter

minal

TIS-Fertiliz

ers

Greentou

r

TGT Myko

laiv

Boriva

zh

Olіmpek

s Cou

pe

Svitlov

odsk

RT

Kozats

ky RTT

Novoo

desky RTT

Pereyas

lavsk

y RTT

Kamian

ka-D

niprovsk

a RTT

Kremen

chutsk

y RTT

Vitove

RTT

Gradyzk

RTT

Goloprysta

nsk el

evato

r

Velyko

lepety

nsky el

evato

r

370 258 210 208 190 170 133 130 126 115 94 76 76 76 76 76 75 42 42 39

Mariupol SP

Berdyansk SP

100297

0921k tons

10

200

1 000

2 500

5 000

9 000

574

30

Volume of grain shipments, k tons

Volume of oil shipments, k tons

River navigationis suspended

Exportof grain

1 GT — grain terminal2 TGT — transshipment grain terminal3 RTT — river transshipment terminal

July

August

September

October

November

December

January

February

March

April

May

June


40Source: Latifundist.com, State Statistics, Ministry of Infrastructure

VOLUME OF AGRICULTURAL GOODS TRANSPORTED THROUGH UKRAINIAN ROADS AND RAILROADS

Age of hopper cars

0–10 11–12 21–30 >31

10%

0%

28%

62%Average ageof rolling stock

26 years

Total number of hopper cars

Railway transportation of grain, million tons

5

10

15

20

25

30

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Owners of hopper cars Road transportation to Ukrainian ports

200-250 kmfrom port

700 kmfrom port

up to 40 t

24 t

Ukrzaliznytsia

79%

Private ownership

14%

Stryiskyi Car Repair Plant

7%

13 230 pc


41Source: Elevatorist.com, Agrochart.com

STRUCTURAL BREAKDOWN OF UKRAINE’S LARGEST VERTICALLY INTEGRATED AGRIHOLDINGS

¹ Three of them are located on Russian Federation territory

Logistics Trade Processing Local brands TDA per hectare$

UkrLandFarming

350

5 grain storages

Agroprosperis(NCH)

Kernel Group

MHP

Astarta-Kyiv

17 grain storages

1,6 million ton capacity

12 grain storages


9 grain storages


40 grain storages


Oil terminals:Oiltransterminal (Mykolaiv)Grain Terminal Complex Taman(Russia)Grain terminal: Transbalkterminal (Chornomorsk)

Trade operator: ULF Trade AG

Schedry DarStozharChumak Zolota

Nasha RiabaFua GraSertificated AngusLegko!Druzhba NarodivBashchinskyEvroproduct

Trade operator: Kernel Trade

10 Oil extraction plants1

2 600franchising shops

11distribution centers

Land bankthousand ha (june 15, 2016)

430

390

370

250

654

Eggs:KvochkaKvochka domashniOrganic Eggs

Dry egg products:Imperovo Food

19 meat processing plants

19 poultry plants

6 sugar plants

6 feed mills

3 seed plants

2 skinneries

6 meat processing plants

5 feed mills

2 poultry plants 1 biogas station

50 000sugar silages

9 sugar plants

2 seed plants

2 soil laboratory

1 biogas station

370

276

231

324


¹ Zaporizhian NPP, the largest in Europe2 One of the largest CHP in Ukraine

42Source: Baker Tilly

BIOGAS POTENTIAL OF UKRAINE

950

256

Potential productionof biofertilizers

Nitrogen fertilizer consumption in Ukraine

The potential usage of biogas

15,6 15,6

0,8

Available quantity of substrates per year, million tons Potential quantity of bio methane, bln m3/t

Biogas is a mixture of methane and carbon dioxide. The quantity of methane present in biogas determines its energy value. This is why the quantity of bio methane is measured to determine the energy potential of biogas sources.

Possible volume of gas production

From agricultural wasteFrom cultivated energy crops

StrawPigmanure

Waste fromfood industry

Chickenmanure

Cattlemanure

3,0

15,0

14

7

7

215,4

0,250,5

5,45bln m3

On arable land, as a result of

productivityincrease

On fallowlands

Half of free arable land

Amount of biometan,bln m3 / year

Weight of substrate3 a�erfermentation, k tons / year

Estimated area, million ha

Biomethane potential output, bln m3/t

0,9

47bln m3

26

13

Biogaspotential

of Ukraine

52 bln m3

Potential to produce energy from biogas(cogeneration)

Potential to replace natural gaswith biomethane

Potential to replace nitrogenfertilizers with biofertilizers4

52

5,4

From agriculturalwaste

From agriculturalwaste and energy

crops

33Natural gas import

54

Natural gas consumptionin Ukraine

Electric power,bln kWh / year

Thermal powerbln kWh / year

500

167 151

500

Thermal power consumption in Ukraine

Electric power consumptionin Ukraine

From agricultural wasteand energy crops

From agricultural waste

1789

3 Only stockbreeding waste was taken into consideration as a substrate 4 In terms of nutrients

81,8


43

SUPPORT FOR AGRIBUSINESS

Improving access to funding

200

400

600

800

2009 2010 2011 2012 2013 2014 2015

Direct foreign investment in Ukrainian agriculture, $ millions

Financial support for agricultural producers

67% crop production 33% animal products

300 million UAH

Financial supportthrough cheaper loans

71,7 million UAH

Directed to Agrarian Fund

25,6 million UAH

Loans to farmers

114,7 million UAH

7,8 bln UAHConcessional loans involved

Credits

630 farms

From state budgetAttracting credit for agricultural enterprises1

From local budgets

115,5 bln UAH

Guarantees 81,7%from planned

Suppliersget a safe financial instrument in exchange for their goods

Buyersget additional guarantees when ordering future stock

Small-sized and medium-sized agricul-tural companies gained the possibility to gage future harvests

Local banksprovide guarantees when funding small-sized and medium-sized agricul-tural companies

International banksgained financial instruments for pre-export funding

¹ As for 01.12.2015


Source: State Statistics, Minagroprod

44Source: State Fiscal Service of Ukraine, AgroPolit.com

AGRICULTURAL TAX CONTROL

VAT was the only form of support that the government providedto farmers.

In 2015 the government opened a separate account which accumulated 38,3 billion hryvnias for additional support of agribusinesses.

The amount of taxes paid by Ukrainian agricultural enterprises to state budget, millions UAH

2 000

4 000

6 000

8 000

10 000

12 000

14 000

16 000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

The VAT, accumulated by sector due to special regime, bln UAH

2011

13,5 14,3 13,719,8

43,2

2012 2013 2014 2015

In 2016 the tendency of increasing VAT sum refunds is retained in agribusiness as well.

1 212 1 596 1 8742 335

3 0643 984

4 8415 763

7 388 7 8178 673

14 393


45

FINANCIAL INSTRUMENTS FOR UKRAINIAN AGRIBUSINESS

Typical securement

Term

Interest

Intermediaries

Objects of financing

Subjects of financing

Stock market turnover

Investor's rights to owncompany's shares

Maximum volumeof funding

In Ukraine

Eurobonds

Suretyship / pledge /corporate guarantee

Long-term

Investment banks

Сompanyas a whole

Investors-bondholders

Hundreds of millions $

IPOBilateral

loans

Pledge, mortgage,claims, suretyship

Pledge, mortgage,claims, suretyship

Syndicatedloans

Mortgage, pledge,guarantee, export credit

agency insurance,suretyship

Exportloans

Goods

Warehouse certificates

Goods

FCR

Future harvest

Agriculturalreceipts

Pledge, cash coverageof guarantee /letter of credit

Bank tool fortrade financing

(Guarantees /letters of credit)


Investors

Сompanyas a whole

Investment banks

Unlimited

Tens of millions $

Bank

Trading operations,investment projects

Trading operations,investment projects

Possible in caseof foreclosure

Possible in caseof foreclosure

Any


Syndicate of banks

Agent bank

Any

Tens of millions $

Bank

Machinery,industrial equipment

Long-term

Tens of millions $

Bank,offtaker

Goods

Short-term

Dependson transaction

structure


structure


structure

Tens of millions $

Bank,offtaker

Goods

Short-term

Millions $

Bank,offtaker

Future harvest

Short-term

Tens of millions $

Bank,syndicate of banks

Goods, machinery, industrial equipment

Bank

Any

Agricultural producers;have their own land fund

Traders, exporters of agri-cultural products

Importers of agriculturalmachinery

Source: Information provided by the law firm AEQUO


46

BASICS OF AN M&A AGREEMENT IN THE AGRICULTURAL SECTOR

What to do: calculation options in M&A agreements (mergers and acquisitions)

How to do: main stages of M&A transactions

Guaranteed paymentBuyer pays part of the purchasing price as a deposit before receiving full ownership rights.

The payment can be partially or fully refunded if the buyer decides to cancel the transaction.

100% prepaymentsBuyer pays full purchasing price before becoming owner of the asset

100%

Partial paymentBuyer pays part of the purchasing price depending on the project completion stage (for instances getting the necessary licenses, etc).

Deposit paymentBuyer transfers funds to a separate account operated by an escrow agent.

Seller gets access to this account only a�er submitting the necessary documentation and property rights to the buyer.

Buyer — only in case if the buyer does not acquire the property rights in agreed terms.

Deposit of documentsUnlike Ukraine some jurisdictions not only allow the transfer of money to an escrow agent, but also the property rights and documentation as well.

A�er the parties fulfill the agreement, an escrow agent sends the documents to the buyer, who (without seller involvement) acquires property rights.

Partial prepaymentBuyer pays part of the purchasing price before getting ownership rights for the asset, and another part a�er becoming owner.

Tender offer.

Taking the decision to purchase/ sell.

Start of negotiations between buyer and seller.

The conclusion of preliminary agreements:

agreement of confidentiality,exclusivity agreement,сonfirmation agreement.

Preparatory stage

1

2

Grant of government approval

Advance/guarantee payment

Fulfillment of suspensive conditions.

Implementationof buy-sell agreement

4

Confirmation of the property rights.

Checking the land property records and land purpose.

Analysis of agreements with third parties:

creditors,landlords and tenants of land,buyers of agricultural products.

Due diligence checkup

Agreement on the cost of the transaction.

Confirmation of the buy-sell agreement in its final version.

Signing of the agreement by both parties

Preparation and structuring the buy-sell agreement

Implementation of the ban for the seller to compete with the buyer.

Additional payments to the seller:

earn out,installment payments.

Completion of supplementary obligations after the agreement fulfillment

6

Settlements.

Property rights are transferred to the buyer.

Acquiring property rights

5

Without prepaymentBuyer pays the whole purchasing price a�er acquiring property rightsfor the asset.

Installment paymentThe buyer pays the purchasing price in several installments a�er acquiring property rights.

Attractive for sellers Compromise solutions Attractive for buyers

3


Source: Information provided by the law firm AEQUO

CREDENTIALS

INFOGRAPHICS PLANNING AND DESIGN

LATIFUNDIST MEDIA, TOP LEAD, MUKOVOZ DESIGN

PRODUCTION

LATIFUNDIST MEDIA

AUTHORS

LATIFUNDIST MEDIA, TOP LEAD

DISCLAIMER

This guide is designed exclusively to inform users. We have made every effort to ensure the accuracy of the information contained in this report. Despite the fact that this information has been carefully prepared by experts, it can only be used to get an overview of the subject discussed in it. Do not use the information contained in the report, as professional advice on a particular issue or passing judgment. Data was collected and prepared for publication in 2016.

CREDIT AGRICOLEPushkinska str, 42/4Kyiv, 01004, UkraineТел.: +38 (044) 393-76-37

BAKER TILLYAlexander Pochkun,managing partner28 Fizkultury St.,Kyiv, UkraineTел.: + 38 (044) 284-18-65

credit-agricole.ua www.bakertilly.ua

AEQUODenis Lysenko,managing partner,[email protected] Business Centre, 52 B. Khmelnytskogo St, Kyiv, 01030, UkraineТел.: +38 (044) 233-65-99

TOP LEADBusiness centre«Horizon Tower»3rd floorKyiv, [email protected]

aequo.ua toplead.com.ua latifundistmedia.com

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