One of the largest global food producers ED&F Man attracted USD 15.9 M from European Bank of Reconstruction and Development for development of company’s business in Ukraine. EBRD will become minor stakeholder of Zaselskiy sugar plant in Ukraine. Continental Farmers Group, one of the UAIndex components will have its own cut of the deal as ED&F Man and CFGP created joint venture where CFGP was supplying sugar beets for ED&F Man Zaselskiy sugar plant due to quotas on sugar imports with tax reliefs.

AgroInvest comment: EBRD investment will most likely lead to higher demand of sugar beets by ED&F Man, thus CFGP will eventually increase sugar beet production, leading to higher sales revenue.

For more detail please refer to the UAIndex Daily (June 25 issue).

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