Ukrainian dairy company Mukko plans to significantly expand its operations over the next four years by increasing milk processing capacity to 100 tonnes per day, expanding its cattle and goat herds, and becoming the largest producer of ricotta cheese in Ukraine. The company is implementing the strategy with the support of bank financing.
The development plans were announced by company co-owner Nazar Kmit. According to him, the company intends to increase its herd to 2,000 dairy cows and 3,000 dairy goats, as well as expand its land bank to 5,000 hectares. This will enable the company to secure its own feed base for livestock farming and increase dairy production volumes.
Kmit said that cooperation with First Ukrainian International Bank, or FUIB, has enabled the company to maintain average annual growth of approximately 50%. According to him, access to financing has accelerated the implementation of the investment strategy and significantly shortened the company’s development timeline.
The company has used the borrowed funds to lease and acquire agricultural land, construct a livestock farm, and develop its cheese production facilities. The financing was also used to purchase agricultural machinery and specialised equipment, including weighing equipment for the farm and a milk tanker.
The company’s co-owner noted that cheese production requires substantial investment, as the maturation period ranges from eight months to one year, significantly increasing working capital requirements.
According to Nazar Kmit, one of the key factors in selecting FUIB was the opportunity to access Ukraine’s state-backed Affordable Loans 5-7-9% programme, as well as the bank’s speed in making lending decisions. He said the financial support allowed the company to implement its plans considerably faster, effectively saving 15–20 years of development.
Mukko also plans to implement further investment projects jointly with FUIB, viewing the bank as a long-term financial partner for continued production expansion and the strengthening of its position in Ukraine’s cheese market.
