9,000 tonnes of OSR at $540 per tonne and 20,000 tonnes of wheat at $215 per tonne pre-sold

 

 

Landkom International PLC (AIM: LKI, "Landkom" or the "Company"), the Ukrainian producer of high-value oil seed rape (OSR) and wheat, has agreed off-take agreements, pre-sales, of the first 9,000 tonnes of its OSR crop and the first 20,000 tonnes of its wheat crop for this year.

The 9,000 tonnes of OSR have been sold at a net price of $540 per tonne to one of the world's largest commodities suppliers. Harvesting of the OSR crop is planned to start in July 2008.

The 20,000 tonnes of wheat have been sold for a net price of $215 per tonne to Louis Dreyfus Commodities. Harvesting of the wheat crop is planned to start in August 2008.

Both agreements are under FOSFA (Federation of Oils, Seeds and Fats Associations Ltd) terms and conditions.

Separately, Landkom announces that some 5,000 hectares of the land recently added to its land bank, within the 100,400 hectares announced on 3 June 2008, was planted by the previous owners. After a detailed review, the Board has decided to harvest the range of low yielding cereal crops planted.

For further information:

Landkom International PLC (www.landkom.com)
Richard Spinks, Chief Executive
Tel: +380 673 410 140

Libertas Capital
Aamir Quraishi/Anthony Rowland
Tel: +44 (0) 20 7569 9650

College Hill
Simon Whitehead/Adrian Duffield
Tel: +44 (0) 20 7457 2020

Note to Editors
Landkom International PLC is a large scale producer of agricultural feedstock, principally oil seed rape and wheat, for supply to the European biodiesel and food industries.

Operating in Western Ukraine in the prime, fertile lands close to the border with Poland, Landkom has secured a land bank in excess of 100,000 hectares (as at 3 June 2008) and has completed the plantation of its first commercial crop of over 14,000 hectares. Landkom has a target to increase the land bank in Ukraine to at least 350,000 hectares by 2011.

Landkom is implementing Western-style agronomy practices using modern agricultural equipment to carry out efficient, large-scale farming techniques that will result in greater return from the land, increase levels of employment in the region and support further investment into the local economy.

 

19 June 2008

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