Kernel elevators accepted 2 mln tons of grains since the start of 2018/19

Unloading of grain at the Kernel elevator
Photo by: Kernel

Since the beginning of MY2018/19, as of November 1, the Kernel elevators have accepted more than 2 million tons of grain crops.

73% of the total grain volume, which was delivered to the elevators, was produced by Kernel.

Kernel's Director for Agribusiness Igor Chikin noted that the early grains harvest campaign this year began as scheduled and even a little earlier in the areas of winter wheat damaged by drought. However, in the first decade of July, precipitation resumed in almost all regions, which is why the harvest of winter wheat lasted for 10-14 days longer than planned. Bulk yield of winter wheat was more than 521 thou. tons and the productivity stood at 5.16 t/ha, which is slightly lower than planned (5.67 t/ha).

He also informed that the harvest campaign of late spring crops is still ongoing, but the results of the yields of all spring crops will be higher than the planned indicators. Thus, in some areas, corn for grain yield reaches 14 t/ha, sunflower — 4.5 t/ha. In general, the company's sunflower yields exceeded the planned volume by 8%, soybeans — by almost 30%, corn — the plan was exceeded by 17%.

“This year we have significantly improved the system for assessing the quality indicators of winter grain crops in the field and informing about its results (the Quality Department of Agribusiness), which gave us the opportunity to plan logistics of grain transportation and promptly respond to situations with deterioration in quality indicators. However, the high yield of spring crops creates increased pressure on all logistics, which will obviously lead to a delay in the harvesting period,” added Igor Chikin.

Earlier it was reported that S&P Global Ratings affirmed its ‘B' long-term issuer credit rating on Kernel Holding with Stable Outlook.