Kernel significantly increased sunseed processing and exports – report

In the second quarter of fiscal year 2024, Kernel processed 811 thsd tonnes of sunflower seeds, up 24% year-on-year.

This is stated in the company’s report for the second quarter of 2024.

Sales of sunflower oil increased by 13% compared to the same period last year, exceeding 388 thsd tonnes due to significant volumes of sunflower seeds processing and support of several available export logistics options, including deep-water ports of the Ukrainian Black Sea. Sales of bottled sunflower oil accounted for 6% of total sales.

“Using the temporary corridor for commercial shipping created by the Ukrainian Navy, Kernel was able to increase the throughput capacity of the export terminal by 11.2 times quarter-on-quarter to 1,805 thousand tons in October-December 2023. This volume covers transshipment of grain, sunflower oil and sunflower cake, and also includes transshipment services provided to third parties (65 thsd tonnes),” the report says.

The volume of grain exports from Ukraine increased by 8.4 times compared to the previous quarter in the second quarter of 2024, reaching 1.7 mln tonnes.

Tags: sunflower oil, Kernel