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Landkom Intl Harvests 22,100 Tonnes Of Oil Seed RapeEdited Press Release LONDON (Dow Jones)--Landkom International, a Ukrainian producer of high-value oil seed rape (OSR) and wheat, has harvested over 22,100 tonnes of OSR from 6,200 hectares. 18,532 tonnes of this harvest was high quality OSR from 5,003 hectares. This represents an average yield of 3.704 tonnes per hectare. On Jun. 19, Landkom agreed an off-take, pre-sale, of its first 9,000 tonnes of its OSR crop at a net price of $540 per tonne to one of the world's largest commodities suppliers. This contract has been fulfilled and payment received. Landkom has also sold a further 4,200 tonnes. Landkom expects to sell the outstanding balance of 5,300 tonnes shortly.
3,600 tonnes of the harvest was lower quality OSR from 1,200 hectares which Landkom intends to use in the manufacture of 3 million litres of biodiesel for use by its own agricultural and logistics fleet. As previously announced, in order to reduce the company's exposure to fuel costs, it has invested in its own biodiesel plant. The costs associated with this part of the crop were substantially less than the high quality OSR sold for foodstuff.
Date: 28.08.2008 Leave your comment
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