Annual Report 2023

Annual Report 2023The wet harvest meant that the dryers were running at maximum capacity to preserve the quality of the crops. Especially the spring crops were challenged by the weather, and this meant significantly reduced yields and, thus, reduced supplies of spring and malting barley. The smaller harvest also led to lower exports from Danish ports. For the first time since the 2018 drought harvest, there were no significant grain shipments during the summer months. On the other hand, feed wheat exports were sound at the end of 2023, and rapeseed exports have also been satisfactory since the harvest. Although harvest yields were low in Northern Europe, the 2023 harvest reached record levels worldwide. This was reflected in the market, where prices were on average lower than for the 2022 harvest. A COMPLEX WORLD FOR COMMODITY TRADING An increasingly complex world presented challenges for commodity trading in 2023. Tensions between China and the USA, Russia’s ongoing invasion of Ukraine, war in the Middle East, rising interest rates, inflation and new weather patterns due to climate change are all affecting the price development of commodities such as soybean meal. In addition, the soy harvest in Argentina was more than halved compared to the previous year due to drought. Brazil, on the other hand, reported a record harvest. This meant that DLG had a different flow of goods than usual, with more commodities being imported from North America and Brazil. The group’s commodity trade recorded satisfactory results due to a marked increase in market share, while also achieving the target that at least 60 % of imported soy must be verified as deforestation-free. HaGe is now Team Agrar In 2023, the merger between the DLG Group’s two large German companies, HaGe and Team, was successfully completed when HaGe changed its name to Team Agrar. At the end of October, Team Agrar moved its head office from Kiel to more modern and inspiring premises in Osterrönfeld near Rendsburg, Germany. Together with the name change, the move symbolises a new beginning for Team Agrar, and after the merger with the Team Group, the synergies, which were one of the main reasons why it was decided to consolidate the companies under one brand, are now becoming evident. “Innovation has been the driving force in Team Agrar (HaGe) for the past 125 years and will continue to be the key to the future. The new head office in Osterrönfeld is close to farmers’ associations and vocational schools, making it the ideal place to future-proof ourselves,” says Bent Nissen, CEO of Team Agrar. 30 DLG ANNUAL REPORT 2023Side 29Side 31