Agricultural market experts note shifts in flour production and exports in Ukraine that are shaping new investment opportunities in the grain processing sector.
According to APK-Inform, 14 of the largest producers — members of the “Flour Millers of Ukraine” association — produced 527,200 tons of flour in 2025, approximately 4% less than in the previous year. These companies account for around one-third of total flour production in Ukraine.
The largest producer in 2025 remained Vinnytsia Bread Products Plant No. 2, part of the Ukrprominvest-Agro group, which produced more than 107,000 tons of flour — the highest output among Ukrainian enterprises.
Previous annual rankings also indicated that Capital Mill (“Stolychnyi Mlyn”) and VFK Roma were among the top producers, together with other companies forming a key share of the market.
Largest Flour Producers in Ukraine
| № | Company Name | Flour Production in Ukraine per Year (tons) | |||
| 2025 | 2024 | 2023 | 2022 | ||
| 1 | LLC “Vinnytsia Bread Products Plant No. 2” | 110 343 | 112 202 | 113 843 | 120 219 |
| 2 | LLC “Stolychnyi Mlyn” (Capital Mill) | 91 600 | 98 722 | 102 562 | 93 223 |
| 3 | LLC “DMK DniproMlyn” | 53 268 | 54 366 | 53 450 | 67 280 |
| 4 | LLC VFK “Roma” | 47 864 | 47 129 | 52 111 | 59 910 |
| 5 | LLC “TK Novator” | 41 190 | 44 499 | 46 613 | 47 837 |
| 6 | PJSC “Rivne-Boroshno” | 33 780 | 31 845 | 29 161 | 33 806 |
| 7 | LLC “TD Zernari” | 32 297 | 27 366 | 27 946 | 33 633 |
| 8 | HD-Group | 25 423 | 39 547 | 55 225 | 59 571 |
| 9 | LLC “Eldorado” | 24 954 | 21 225 | 24 942 | 18 031 |
| 10 | PrJSC “Cherkasy Bread Products Plant” | 22 485 | 18 808 | 17 013 | 20 293 |
| 11 | LLC “Dykanka Mill” | 17 256 | 22 080 | 22 150 | 17 959 |
| 12 | LLC “Nyosfera” | 14 406 | 15 180 | 13 344 | 12 454 |
| 13 | Bread Products Plant “Bilhorod-Dnistrovskyi” | 7 449 | 10 515 | 13 308 | 17 749 |
| 14 | LLC “Agro-Yug-Service” | 4 852 | 4 740 | 12 211 | 5 505 |
| Total (thousand tons) | 527 167 | 548 224 | 583 879 | 607 470 | |
At the same time, domestic flour production in the 2025/26 marketing season declined by approximately 10% compared to the previous season, to around 510,000 tons. The decrease occurred against the backdrop of reduced export shipments.
Analysts forecast that wheat flour exports in the current season may reach around 65,000 tons, 2.6% lower than in the previous marketing year. The main external buyers remain Moldova, Palestine, and the Czech Republic, although procurement volumes have declined.
Investment Outlook
The decline in production and exports creates conditions for potential investment in modernization and capacity expansion of flour milling enterprises. Demand for quality flour on the domestic market remains stable, while strengthening export positions in the EU, the Middle East, and other regions remains possible through upgrades to production lines and logistics solutions.
Both strategic industry investors and financial investors may consider modernization of mills, automation of grain processing operations, and development of value-added chains (such as baking and further processing) as priority investment areas.
