Ukrainian grain-to-poultry firm MHP has said that it continues to develop its processed meats business in order to shift its mix to higher margin products.

In a pre-close trading update, MHP said said volumes of cooked meats “decreased slightly” in the first quarter to 31 March. However, the group said that selling prices rose 7% year-on-year as a result of “product portfolio rebalancing”.

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The company said: “MHP continues to execute its strategy of increasing the company’s market share in meat processing products, by using internally produced chicken meat.”

The company has also invested in increasing its poultry production levels and increased production of chicken by 30% year-on-year. Sales to third parties rose 22%, led by a 31% increase in export levels.

MHP will unveil its full first quarter numbers on 22 May.

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