The listed Hungarian agricultural company is expanding in Italy

(Photo: Pixabay)

According to the company’s plans, 100,000 tons of corn, wheat, soybeans, barley, and sunflower, rapeseed, and soybean meal needed for feed production will be traded in Italy in the 2024/2025 business year.

So far, the group has operated four commercial offices – in Hungary, Romania, Serbia and Austria – so the newly founded subsidiary is the fifth in a row

According to the announcement, grain exports from Hungary to Italy exceeded 2 million tons last year: about 840,000 tons of wheat, about 1.1 million tons of corn, and approximately 310,000 tons of barley were transported by local companies to Italy.

According to UBM’s expectations, global poultry and pork consumption will increase by around 10 percent in the coming years, which will also affect the feed sector

The company currently produces 575,000 tons of feed, and also trades in 1.7 million tons; operates a total of six feed factories in Hungary, Slovakia and Romania. The profit after tax of UBM Holding Nyrt. in the business year that ended at the end of June 2022 was 2.8 billion forints, and its sales amounted to 155.36 billion forints. The company is listed in the standard category of the Budapest Stock Exchange, the company’s shares closed at HUF 1,460 on Tuesday.

MTI