(Resource News International) –– Viterra is actively pursuing business opportunities in Ukraine, according to news reports from the country.
A representative for Canada’s largest grain handler confirmed that the company was “developing relationships” in Ukraine, but said there were no announcements to be made at this point.
Viterra CEO Mayo Schmidt was recently in Ukraine to meet with agricultural industry representatives in the country, according to Ukrainian news reports.
The Ukrainian Agrarian Confederation website had posted a picture and brief news release, dated Nov. 16, of Schmidt meeting with officials in the country.
Read Also
U.S. grains: Corn rebounds from contract lows on short covering, bargain buying
Bargain buying and short covering lifted U.S. corn futures on Monday after the market slid to contract lows on expectations for strong U.S. output, traders said.
Sergiy Stoyanov, director general of the Ukranian Agrarian Confederation, told Ukrinform, Ukraine’s national news agency, that Viterra plans to develop its business in the country.
Schmidt reportedly told the Ukrainian representatives that Viterra would be looking at processing grains and oilseeds in Ukraine, as well as purchasing or constructing grain elevators and port terminals, and trading Ukrainian grains on the world markets.
Viterra was said to be particularly interested in exporting Ukrainian barley, buckwheat and rapeseed.
While far from conclusive evidence, an Internet search also brings up the interesting fact that a Viterra employee owns the rights to the domain name viterraukraine.com.
“Viterra has recently opened an office in Geneva which will be responsible for developing trading relationships in Europe and the Black Sea region, including the Ukraine,” a Viterra spokesperson said via email.
“Viterra is currently developing those relationships, (but) there are no definitive announcements to be made at this time,” the spokesperson added.
Regina-based Viterra recently expanded its operations to Australia through the purchase of ABB Grain.
