Agrowill Group sells rape at more than global average

Despite adverse natural conditions this year, Agrowill Group, a leading agricultural company in the Baltic states, expects to boost its income from crop production. This year, the company’s earnings from one ton of winter rape were LTL 100 higher than the global market price that prevailed at that time. 
According to Vladas Bagavičius, Board Chairman of Agrowill Group, cereal and rape purchase prices are higher this year than in the same period last year in almost 27 EU member states.
Bagavičius expects the company led by him to increase its income not only from rape this year. Winter wheat yields in the fields cultivated by the company this year are higher than last year, and the quality of cereal also allows expecting a good income – Agrowill Group harvested the largest quantity of extra and first-class winter wheat.
According to Bagavičius, extreme natural conditions, i.e. a cold winter, a cold and wet spring, midsummer heat and rains during harvest time, worsen the quality of the harvest and increase the cost of products. Agrowill Group foresaw this back in the early spring and therefore strengthened its harvesting facilities, namely rented 8 additional combine harvesters, which enabled it to harvest winter rape and winter wheat faster. The additional machinery will also help to harvest summer crops faster.
In Bagavičius’ words, last autumn, Agrowill Group leased additional 300 ha, thus expanding its farmland. This year, the company controls approximately 32,000 ha of farmland. 
“Farmland was expanded in order to enhance production and reduce the cost of grain. Wheat and rape have been sown in present and new plots of land. These crops have been chosen after evaluating global market trends – wheat and rape prices are on the rise. Our forecasts that the market demand for cereal will remain high in 2011 and the prices will not be lower than in 2010 have proven to be accurate,” the Board Chairman of Agrowill Group said.
Last year was successful for Agrowill Group. In 2010, the company earned a profit of LTL 6,300,000.

For more information, please contact:
Vladas Bagavičius, Chairman of the Board of Agrowill Group AB, tel. +370 610 31807

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