In 2011, MHP produced 384,000t of poultry meat, up 7% from 360,000t in 2010, leading to an increase of 12% in sales, from 331,400t to 370,900t. “The growth of volumes produced was the result of more effective use of existing production capacities in spite of all the company’s existing poultry production facilities operated at their full production capacity during the year,” MHP said.
Domestic demand remained strong, and exports grew by almost 80%, representing 10% of total sales, due to the opening of new markets in Libya, Lebanon, Uzbekistan and Angola.
Chicken meat prices increased by 10% over the same period to reach UAH15/kg ($1.87/kg), following the global trend as a result of the grain price rise.
Sales of processed meat products also increased by 12% between 2010 and 2011, reaching 37,000t. The price of these products went up 14% over the same period of time. MHP expects its current 10% market share in the processed meat sector to grow in the next few years.
Q4 results were also positive, showing a 9% year-on-year increase in sales volumes and an 18% rise in price. Sales of processed meat products remained stable, while price grew by 16%.
The vertically-integrated company, which also sells sunflower oil, is currently building a new greenfield and storage capacities as part of a seven-year expansion plan.