At the end of September, Michel Tereshchenko resigned from the post of chairman of the Hlukhiv City Council and sold his own agribusiness to a Belgian company. He told about this in an interview with iAgro.

Tereshchenko does not specify the name of the company. However, the publication admits that this may be a partner with whom the ex-mayor began growing hemp and flax in Ukraine.

“Three weeks ago, I sold my business to a Belgian company. It means that it is no longer mine,” he says.

Tereshchenko says that it was from hemp that they received the most benefits. Having a processing plant, you can earn more than €2,000 per hectare from hemp. “The case is very profitable,” he says. “But starting investments are needed.”

In total, 400 hectares were sown with hemp. Just as much is under flax. Once in 7 years, they rotated crops.

Tereshchenko recalls that he invested $1800 per hectare under flax in the business, and this is only in agricultural machinery. That is, for 400 hectares it took $720 thousand.

After that, it was still necessary to invest in the plant. They bought an old production facility, built in 1926, which had not been used for a long time. They purchased the Belgian equipment that took €1.5 million.

The reasons for selling the business he does not name. However, Tereshchenko resigned after another sabotage of the City Council meeting, to which only two participants came. iAgro notes that the reason could be political ambitions: earlier Tereshchenko said that he would run for president.