Black Earth Farming was established in 2005 and was among the first foreign-financed companies that undertook considerable investments in the Russian agricultural sector. The Company holds ownership of an extensive land bank of first class soil in several Russian regions and is a major producer of grains, oilseeds and potatoes. Black Earth Farming’s current focus is on increasing the productivity and profitability from its existing asset base and to become a best-in-class agro industrial company in terms of production costs per ton. The Company aims to continue to expand its diversification into irrigated vegetable crops. As of 31 December 2015, Black Earth Farming had 256,000 hectares under control, of which 89% were owned. In 2015, a total of 149,000 hectares were in cropped. The Company plans to crop a similar area in 2016.