Triple success: farmers received unexpected profits from the harvest.

In 2023, companies received a total profit from major crops amounting to 129 dollars per hectare, which exceeds the projected 94 dollars per hectare.

This is reported by the company Agrohub, citing the results of its research.

"The actual EBITDA indicator (earnings before interest, tax, depreciation, and amortization expenses) for major crops in 2023 is 129 dollars per hectare, exceeding the projected 94 dollars per hectare. Compared to 2022, companies' profits tripled. In 2022, the actual EBITDA was 47 dollars per hectare," the report states.

It is noted that the greatest increase in profitability was observed in corn - 38 dollars per hectare from sales. At the beginning of the year, farmers considered it unprofitable with an EBITDA of 47 dollars per hectare. It is also important to note that corn was the most unprofitable crop in 2022.

The study also showed significant revenue growth from rapeseed - 228 dollars per hectare (+32% above forecast) and sunflower - 165 dollars per hectare (+33% from forecast).

According to the study results, the actual result for wheat and soybeans is almost the same as forecasted. Since the majority of the harvest was sold in 2023, wheat turned out to be unprofitable (-101 dollars per hectare), while soybean sales brought significant profits (+378 dollars per hectare).

According to the company, actual product prices were 3.3% higher than projected. The price of corn increased the most - by 6.3%. Significant price increases also occurred for rapeseed (+5.2%) and sunflower (+4.3%). The price for wheat and soybeans changed slightly (+0.8% and -0.2% respectively).

Agrohub Benchmarking lead, Oksana Bobrova, noted that prices became favorable due to the stable operation of the marine grain corridor, which allowed farmers to save on land transportation. Producers also adapted to the situation and optimally plan growing expenses.

At the Time of data collection, the harvest of all the aforementioned crops, except corn, was sold at 95%. As for corn, by mid-July, the average remaining was 20% of the total yield.