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Bread of Ukraine Chairman Khoroshailov accuses Baranivskiy of unwillingness to turn Bread into grain market important player

22.06.2006 09:33 "Agro Perspectiva" (Kyiv) As to Serghiy Khoroshailov (State-owned Joint Stock Company Bread of Ukraine Chairman) press-conference report, he has accused Oleksandr Baranivskiy (Acting Minister of Agrarian Policy) of his being unwilling to turn Bread of Ukraine into active influential grain market participant/agrarian market State operator.

«Within period I headed Company Bread of Ukraine, Ministry of Agrarian Policy hasnt just a single time got interested in Company financial problems. Besides, Ministry pursues policy which doesnt permit Company to schedule its plans on 2006 grain purchases/forecast 2006 financial results,» declared Khoroshailov.

As to him, Company is agreed to be submitted to Ministry of Agrarian Policy in order to efficiently function on grain market.

Khoroshailov said he was astonished at Baranivskiy attitude towards Bread of Ukraine future.

Bread of Ukraine Chairman made it known that though earlier Baranivskiy protested against Bread privatization, yet end this May he had launched initiative on Company privatization.

As earlier reported, Bread of Ukraine had ended 2006 first quarter at UAH5,000 net profit; its Jan-May 2006 net income totaled UAH111.

Company had ended 2005 at UAH22.998 mn loss.

Cabinet had prohibited Bread of Ukraine to manage its property without Government consent.

Company Bread of Ukraine was founded in 1996; presently Company incorporates 81 grain acceptance/storage system companies.

Bread of Ukraine owns 2 port elevators (Odesskiy and Myckolayivskiy). Odesskiy port elevator grain storage capacity totals 100,000 MT (annual transshipment capacity — 1.5 mn MT); Myckolayivskiy port elevator grain storage capacity totals 69,000 MT (annual transshipment — 600,000 MT);

Since end 1998 Company suffered financial problems due to having had got in big debts with petrol/gas companies while acting as agrarians fuel/fertilizers shipments intermediary.


< Bread of Ukraine to get UAH18-20 mn profit in 2006 All news for
22.06.2006
Bread of Ukraine to purchase 2006 grain for 4 traders at total US$50 mn for further export >

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