Ukraine. Europe has become the key corn market for Kernel, replacing China
Kernel remains Ukraine’s largest exporter: in fiscal year 2024, exports amounted to 5.5 million tons of grain. The Ukrainian company also remains the world leader in oil exports, having supplied 1.4 million tons of oil to foreign markets in bulk over the past fiscal year.
This was stated by Kernel’s Director of Communications and Government Relations Kateryna Spivakova during a webinar by the Center for Economic Strategy (CES).
According to her, 40% of Kernel’s exports go to Europe: 52% of grain exports, 30% of bulk oil and 42% of bottled oil. By 2022, exports to Europe amounted to: 27% of grain, 15% of bulk oil and 18% of bottled oil.
In general, according to the results of the 2024 fiscal year, there was a significant increase in exports, especially in grains, in the structure of which 63% is corn, 30% is wheat, and 7% is all other types of grains.
“For us, China has always been the key market for corn, now it is Europe, in particular, Spain, Italy, the Netherlands, and Germany. European markets are quite balanced, we have actually replaced the Russian product. Among other countries, India, countries of Asia, the Middle East, as well as Turkey and countries of North Africa are key,” explained Kateryna Spivakova.
Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.
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