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Rusagro posts 30% rise in 1H revenue to $1.6 bln

In 2Q 2024 crude vegetable oil production reached 289,000 tonnes, which is 107% higher than in the same quarter of the previous year

MOSCOW, July 22. /TASS/. Revenue of Rusagro Group rose by 30% in 1H 2024 year-on-year to 142.7 bln rubles ($1.6 bln), the company reported.

Q2 consolidated revenue amounted to 72.263 bln rubles ($818 mln), which is 20% higher than in the same period in 2023. "Rusagro’s revenue improved mainly due to oil & fat business sales volume growth and consolidation of NMGK Group," the report said.

In 2Q 2024 crude vegetable oil production reached 289,000 tonnes, which is 107% higher than in the same quarter of the previous year. "Production increased organically following the modernization of Balakovo oil extraction plant (capacity growth by 30%), as well as growth of trouble-free operation time at remaining sites. An additional factor of output increase is the consolidation of NMGK and core oil & fat assets into united segment," the company said.

One of Russia’s leading producers of sugar, pork and fat-and-oil products, Rusagro Group supplies products to over 80 Russian regions and more than 49 countries worldwide.