17 November 2022, Thursday, 19:41 431

Kernel Cuts Sales Of Sunflowerseed Oil By 14.3% To 189,100 Tons In Q1 Of 2022/2023MY

Редактор: Tetiana Herasimova

In July-September of the 2022/2023 marketing year (July 2022 - June 2023), the Kernel holding, one of the largest operators in the oilseed market, reduced sales of sunflowerseed oil (bottled and bulk) by 14.3%, or by 31,564 tons, to 189,144 tons compared to the same period in 2021/2022 marketing year.

The company announced this in a statement, Ukrainian News Agency reports.

Also in Q1 2022/2023 Kernel reduced the processing of sunflower seeds by 4.4%, or by 21,183 tons, to 461,083 tons compared to the 1st quarter of the previous marketing year.

At the same time, the company reduced grain exports by 3.1 times, or by 1.5 million tons, to 0.71 million tons compared to the 1st quarter of last marketing year.

In the 1st quarter of 2022/2023 Kernel transshipped 0.721 million tons of cargo through its port facilities, which is 3 times less than in the 1st quarter of last marketing year.

"Until September 30, 2022 six plants of the oilseeds processing group resumed operation. Two plants in the Kharkiv Region remained under Russian occupation until mid-September. The resumption of processing of oil crops at such plants is not expected in the near future, since they are located very close to the front line and to the border with Russia and are still at high risk of attacks from Russia," the report said.

As the Ukrainian News agency earlier reported, in the 2021/2022 marketing year (July 2021 - June 2022) Kernel reduced sales of sunflowerseed oil (including bulk and bottled) by 29.2%, or by 399,465,000 tons, to 967,196,000 tons compared to the 2020/2021 marketing year.

The company has a land bank of more than 600,000 hectares - in 2017, Kernel absorbed "Ukrainian Agrarian Investments" and completed the implementation of the strategy to increase the land bank.

The company's enterprises produce products under the names Shchedryi Dar, Stozhar, and Chumak Zolota.

Kernel owns nine oilseed processing factories in Ukraine.

Businessman Andrii Verevskyi controls about 40% of Kernel through the Cypriot Namsen Limited.

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