Ukraine's Kernel increases sunflower seed processing 24% in fiscal Q2

MOSCOW. Jan 23 (Interfax) - Kernel, one of Ukraine's largest agricultural holdings, processed 811,000 tonnes of sunflower seeds in Q2 of its 2024 fiscal year (July 2023 - June 2024), which is 24% more than in the same period the previous fiscal year, Ukrainian media reported, citing a company press release.

The percentage change is due to power outages last season.

The report says that sales of sunflower oil in fiscal Q2 increased 13% to over 388,000 tonnes. High volumes of sunflower seed processing are supported by export logistics options. Meanwhile, sales of bottled sunflower oil made up 6% of total sales.

Loading volumes at Kernel elevators in H1 of fiscal 2024 increased 21% to 2.5 million tonnes, as the agricultural holding managed to complete the harvest on time, in contrast to the delayed harvest campaign the year before.

The holding says it managed to increase its export transshipment volumes via Black Sea terminals 11.2-fold in October-December 2023 to 1.805 million tonnes. This includes the transshipment of grain, sunflower oil and meal, as well as transshipment services provided to third parties (65,000 tonnes in fiscal Q2 2024).

Currently, out of Kernel's eight enterprises, two plants in the Kharkov region are not operating, the company said.

Kernel is one of the largest producers and sellers of bottled oil in Ukraine, is a major producer and exporter of sunflower oil, and is engaged in the cultivation and sale of agricultural products.