Kernel formed the first sunflower meal shipload lot to China

Photo by: Kernel

Kernel formed the first sunflower meal shipload lot to China. The load volume is 48 thou. tons, the company informs.

On the second day after signing the protocols for the export of sunflower meal, the first contract for the sale of sunflower meal was concluded by Kernel.

In the current marketing year, Kernel exported more than 70 thou. tons of meal to the Chinese market, most of which will soon be received by the representatives of COFCO.

The price for meal has changed significantly. After shipment of the first ship lot from Ukraine, the cost of the meal during the week increased from USD 180 to USD 220 per ton. Today it is already reaching USD 260 per ton FOB in Ukrainian ports. In addition to China's influence, the increase in the cost of soybean complex also influenced on the price.

"China's trade war with the United States, an increase in import duties for US exporters have caused a shortage of raw materials needed to load capacities for the production of protein products. Chinese producers see high-quality sunflower meal from Ukraine as an alternative," Ruslana Kozachenko, the Head of the Department for Oil and Cake Trading, comments.

Reference: over 9M of FY2018, Kernel increased the sales volume of sunflower oil in bulk by 14% to 914.6 thou. tons.