IMC Profit Plunges 33% as Commodity Prices and Logistics Costs Rise

IMC, a Ukrainian agricultural holding company, reported its financial performance for the first half of 2026. The company's net profit fell by 33% to $34.3 million compared to the same period last year.

This decline was attributed to lower corn and sunflower prices, higher logistics costs, and the depreciation of the Ukrainian hryvnia. Despite a revenue increase of 6% to $88.9 million, IMC's normalized EBITDA dropped by 22% to $50.2 million.

The company's cost of goods sold increased by 20%, with payroll expenses for production personnel rising by 23%. The average selling price of corn fell from $213 per ton to $208 per ton, resulting in a revenue decrease from corn sales despite an increase in volume.