CALGARY, ALBERTA, CANADA — Viterra Inc. announced Oct. 6 the opening of a new marketing office in Kiev, Ukraine, which will strengthen the company's capacity to source and market food ingredients to key international markets.
Viterra's Kiev office will build up the company's origination capabilities in the Black Sea region for the company's core commodities including wheat, barley and canola. The region's growing global importance in the production of such commodities will provide Viterra with additional opportunities for the origination and marketing of food ingredients into key markets in Europe, Africa and the Middle East.
"Ukraine is known for its rich, fertile soil and as the fifth largest wheat exporting nation in the world, is playing an increasingly important role in addressing global food demand. Our presence will complement our existing origination capabilities and provide further access to growing markets, along with the first hand insight needed to strengthen our marketing programs to supply the unique needs of our customers," said Don Chapman, Viterra's senior vice-president, international grain.
According to the U.S. Food and Agriculture Policy Research Institute, net trade exports of wheat, barley and canola from the Black Sea region alone will increase by 7.6 million tonnes over the next 10 years, an approximate increase of 23%.
"By establishing our company in key geographic areas such as Ukraine, we extend our ability to manage trade flows of food ingredients, freight activities and arbitrage opportunities, while managing price risk," said Christian Joerg, vice-president and managing director, Europe.
To assist in reaching the goals set forward by the company, Viterra is pleased to announce that Bjorn Stendel has been appointed as managing director. Stendel joins Viterra with 15 years of experience in developing and implementing entry strategies in Ukraine, and managing grain businesses with substantial asset bases.