June 10, 2016

High rainfall leads to reduction in the planned crop area for 2016

St Helier, Jersey, 2016-06-10 08:00 CEST (GLOBE NEWSWIRE) --  

Exceptional rainfall levels, averaging 220% of the 5-year average to the end of May on our farms, have resulted in a reduction of the spring planting area.

The finalized 2016 cropped footprint is as follows:

Crop Actual Ha Planned Ha
Total 134.4 151.1
Spring Barley 17.5 19.3
Corn (grain) 39.7 53
Sunflower 37.9 39
Winter Wheat 38.3 38.3
Vegetables 0.66 0.7

   

The rainfall has been concentrated in April in May and has mostly affected the Voronezh, Lipetsk and Tambov oblasts of the central Central black Black soil Earth region. Kursk oblast was drier and additional hectares were planted on our Kursk farms to mitigate.

The reduction against the plan is mostly for corn. The planted footprint is 89% of the planned area. The crops planted have established very well and crops are looking excellent with very good potential.

 

For additional information, please contact:

Rostislav Samotsvetov, Chief Financial Officer, Black Earth Farming Ltd., tel.: +7(473) 2065630, +7(910)246 7800

Notes to Editor:

Black Earth Farming Limited is a farming company operating in Russia. Its shares are listed as depository receipts on Nasdaq OMX Stockholm. The Company develops and farms agricultural land assets primarily in the fertile Black Earth region in southwest Russia. Black Earth Farming has gained a strong market position in the Kursk, Tambov, Lipetsk and Voronezh areas, controlling some 256,000 hectares of what is possibly some of the world's most fertile soil. In 2015, Black Earth Farming harvested approximately 150,000 hectares, effectively making it one of the world's largest public farming companies by cropped area. The Company's main products are wheat, corn, barley, sunflower and potatoes.

Corporate website: www.blackearthfarming.com

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