A/S Trigon Agri: Trigon Agri crop update
Copenhagen, April 27, 2011
As indicated in Trigon Agri’s Annual Report 2010, the total area of winter crops sown during the autumn of 2010 stood at 47 thousand hectares out of which 35 thousand hectares were winter wheat and 11 thousand hectares winter rapeseed.
As of today less than 1% of the winter wheat has been lost in spite of the severe 2010/11 winter. This can be compared to 13% lost during the same period last year. To date, 99% of the sown winter wheat has good potential, but ultimately the weather conditions till the end of June will determine how much of the potential can be realised .
Winter rapeseed losses are also much improved for the 2011 harvest with 52% of the sown area surviving the winter, compared to last year’s 32%. The areas lost will be reseeded with soya and sunflower.
Trigon Agri’s management considers losing up to 50% of the sown winter rapeseed area to be normal, as with today’s price levels even with such a loss percentage the winter rapeseed still remains the most profitable crop of the Group. As at the date of the current release the Group has already sold forward 5 thousand tonnes of winter rapeseed at a price of USD 607 per tonne.
Following a marginally delayed start due to April’s wet and cold weather conditions, spring field works are now underway. Fertiliser applications to winter wheat and winter rapeseed have been completed in Ukraine and Stavropol, with applications in Penza and Samara still ongoing. Sowing of other crops is on target.
The total targeted harvest area is 92 thousand hectares (including additional land acquisitions in Ukraine) in 2011 (85 thousand hectares in 2010).
Important to note, is the establishment of a Research and Development Department, undertaking a comprehensive range of crop trials already this season. The results of these private trials will further strengthen the crop input programs going forward, allowing for improved yields per hectare everything else being equal.
Mr. Ülo Adamson, President of Trigon Agri A/S
Tel: +372 66 79200
About Trigon Agri
Trigon Agri is a leading integrated soft commodities production, storage and trading company with operations in Ukraine, Russia and Estonia. Trigon Agri’s shares are traded on the main market of NASDAQ OMX Stockholm. Trigon Agri is managed under a management agreement by Trigon Capital, a leading Central and Eastern European operational management firm with around USD 1 billion of assets under management.