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Ros Agro to snap up Razgulay buckwheat plant

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Ros Agro is set to take over another Razgulay asset, a buckwheat processing plant, just weeks after the snapping a large slice of the Russian agribusiness's sugar processing capacity.

Ros Agro is the London-listed holding company for the Russian sugar-to-meat business Rusagro.

Last year the company took a 20% stake in Razuglay, while taking over around 34bn roubles ($519m) of debt.

Part of the terms of the agreement were that Razgulay would put up some of its assets for auction, allowing Ros Agro to bid on them.

Sugar mill purchase

Last month Ros Agro announced the purchase of three beet sugar mills from Razgulay.

Speaking to investors after the announcement, Ros Agro chief executive said that the company was considering the purchase of "one or two" more Razgulay assets, as part of a broader move to

The move grew Ros Agro's sugar beet processing capcity by 40%, to 50,000 tonnes, and increased its beet harvested area by 20%, to 470,000 tonnes.

Pseudocereal

The plant, which is located in Voronezh Oblast, which borders Ukraine, has capacity to process 45,000 tonnes of buckwheat annually.

Buckwheat is a pseudocereal, a grain-like seed used primarily for human consumption.

Russia, the world's top grower, produced 856,000 tonnes of buckwheat last year, so the fomer-Razgulay plant has capacity to process a significant volume of the country's production.

The seeds, which are gluten-free, are used for a range of traditional dishes across Europe and Asia.

Ros Agro shares closed down 2.3% in London, at $16.75.

By Agrimoney.com

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