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Ovostar cracks European Union shell egg market

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What is laid in Ukraine does not necessarily stay there.

 

Just ask Ovostar Union, the Ukrainian egg producer, which revealed it has just made its first exports of shell eggs to the European Union.

 

“The first 2m eggs were already supplied to European consumers,” Ovostar chief executive Borys Bielikov said, although that represents only a small part of the company’s output, which hit 1.25m eggs in the January-to-September period, up 16% year on year.

 

Of these 829m were sold as shell eggs, a rise of 8% year on year, led by a 47% jump to 350m in eggs exported.

 

And there is potential for a shed load more on the European route, with the rated by rival AvangadCo as the “most attractive” import market, accounting for 51% of total world imports of eggs and egg products.

 

‘Overall satisfied’

 

In fact, Ovostar has for some two years been exporting egg products to the EU.

 

Indeed, the group reported a 47% jump to 1.41m tonnes in exports of dry egg products, used largely by food companies as an easy-to-store ingredient, out of total output of 2.08m tonnes.

 

Mr Bielikov said that Ovostar’s board was “overall satisfied” with the group’s operating performance up to September, and forecast “good results” for 2017 as a whole.

 

Still, investors added a modest 1.1% to the group’s Warsaw-listed shares, which closed at 105.20 zloty.

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