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Rusagro posts 20% rise in 9M total sales to $2.3 bln

Grain sales equaled 220,000 tons in Q3 2024, down by 49% year-on-year, while oil crops sales decreased by 16% in the period to 59,000 tons

MOSCOW, October 21. /TASS/. Total sales of Rusagro Group rose by 20% in January-September 2024 year-on-year to 225.5 bln rubles ($2.3 bln), the company reported.

In 3Q 2024 Rusagro's consolidated revenue before intersegment eliminations amounted to 82.799 bln rubles ($860 mln), up by 6% year-on-year. "Revenue improved mainly due to oil & fat business production growth and management of sales structure in meat business," the company said.

In 3Q 2024 crude vegetable oil production reached 250,000 tons, which is 48% 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," Rusagro said. The volume of sales of industrial oil & fat and dairy products increased by 45% to 537,000 tons in the reporting period. Sales of meal and bulk oil rose by 67% and 88%, respectively, following production volume expansion after modernization of the Balakovo oil extraction plant. Sales of industrial fats declined by 34% following a decrease in output due to extension of logistics routes for palm oil delivery, the company said.

Production of live weight pork for slaughtering reached last year's level and amounted to 78,000 tons "due to growth of output in the Central Federal District, which compensated the decline in the Primorsky Region production," Rusagro said. Meanwhile, sales volumes of pork products remained unchanged at 68,000 tons in Q3 2024 year-on-year.

3Q sugar production added 3% to 231,000 tons. "Sugar output increased due to earlier start of sugar beet processing compared to the previous year," the company said. Sugar sales amounted to 195,000 tons, which is 6% lower compared with the same period in the previous year.

Grain sales equaled 220,000 tons in Q3 2024, down by 49% year-on-year. Oil crops sales decreased by 16% in the period to 59,000 tons.

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.