World Grain - January 2023 - 25

WG: It's difficult to imagine the
disruption this invasion has created for
your company. How is it holding up in
terms of cash flow and its overall financial
state?
Mr. Vadatursky: The five years preceding
Feb. 24, 2022, were the most
successful in Nibulon's history. In
2021-22, Nibulon exported 4.5 million
tonnes of agricultural commodities to
34 countries. We achieved record profits
and significantly reduced our debt.
The war has posed significant disruptions
to our business, but I am confident
we will emerge stronger, just as
Nibulon coped with previous periods
of economic turbulence in the 1990s
and 2000s. Despite logistical challenges
and lengthy delays, throughout last
year, Nibulon delivered for its customers
who continue to retain their trust in
us. We exported 50,000 tonnes of grain
between May and November 2022 to
Poland, Hungary, and Romania via
rail and 160,000 tonnes to Romania
via barges. We also shipped 230,000
tonnes of wheat to countries through
our partnership with the UN World
Food Programme between August and
November 2022. This is positive, but
there is still a lot more that the industry
stakeholders must do to support
businesses like Nibulon. We need flexibility
in financing options to ensure
that Nibulon can continue to connect
Ukraine's farmers with international
food markets, bolster the Ukrainian
economy and help alleviate famine in
the developing world. Ukraine's agricultural
sector has always been a driver
of the country's economic growth
and hard currency earner crucial for
the financial system's stability. We will
now be a driver of economic recovery
and post-war reconstruction.
WG: Do you think the current Grain
Corridor Deal will be in place long
term if the war continues or will it be
short-lived? Why?
Mr. Vadatursky: The Black Sea
Grain Initiative has been a vital shortterm
solution to the extreme challenges
Russia's war has caused for export loWorld-Grain.com
/ World Grain / January 2023
ld
*Patent Pending
The Ukrainian people's resolve grows
stronger every day, and I am proud
that Nibulon has long been a symbol
of Ukraine's resilience.
Andriy Vadatursky, CEO, Nibulon
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World Grain - January 2023

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