Ukraine Grain Export Restriction Lifted

 

Landkom International PLC (AIM: LKI, "Landkom" or the "Company"), the Ukrainian producer of high-value oil seed rape and wheat, notes and welcomes the announcement yesterday by the Ukrainian government to lift all grain export restrictions.

Landkom is focussed on the cultivation and production of wheat and oil seed rape and is not involved in export. However, the Company expects that the lifting of these restrictions should be beneficial for the price of Landkom's wheat harvested later this year.

Richard Spinks, Landkom Chief Executive said:
"We have previously based our business model on local wheat sales, which are at a significant discount to world prices. The lifting on the wheat export restrictions will enable us to sell our 2008 wheat harvest directly to international buyers at higher prices."

For further information:

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

Libertas Capital
Aamir Quraishi/Stephen Pickup
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 67,000 hectares (as at 3 March 2008) and has completed the plantation of its first commercial crop of over 10,000 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

 

24 April 2008

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