AgroGeneration Reports Significant Impact on 2024 Harvest Due to Severe Drought and Ongoing Conflict

Paris, September 20th, 2024 - AgroGeneration, a Ukraine-based grain and oilseed producer, has released an update on its current operational performance, highlighting severe challenges faced in the 2024 harvesting campaign.

The extreme drought conditions in Ukraine have severely affected crop yields and production quality. High temperatures and lack of rainfall from March to August 2024 resulted in a significant soil moisture deficit. This led AgroGeneration to commence harvesting two to three weeks earlier than optimal, compromising yield and quality.

Compared to 2023, yields have sharply declined. Wheat yield is down 36% year-on-year, peas by 64%, and soy by 37%. The quality of the crops has also deteriorated, impacting selling prices and financial projections.

The ongoing war in Ukraine, with intensified Russian attacks on energy and infrastructure, has further disrupted operations. These factors combined have led the company to revise downward its financial outlook for 2024.

Despite these challenges, AgroGeneration has begun the 2025 crop season with winter wheat sowing, although progress remains dependent on climatic conditions and war-related disruptions.