Kernel oilseeds processing scaled up 16 pct

In H1 of the financial year 2020, Kernel increased its oilseeds processing by 16% to 1.57 mln t.

The volume of oilseeds processing in Q2 FY2020 reached 942.68 thou. t. As noted by the company, Kernel set a new production record in the reporting period. Kernel's crushing facilities were functioning at full capacity in Q2 FY2020.

In H1 FY2020, the company cut sunflower oil sales by 17% to 647.33 thou. t (H1 FY2019: 784.33 thou. t).

According to the report, sunflower oil sales volumes in Q2 FY2020 decreased 9% y-o-y, to 346 thou. t. Bottled sunflower oil sales amounted to 10% (34.3 thou. t) of that volumes, up 14% y-o-y.

As a reminder, Kernel processing facility, Prydniprovsk Oil Crushing Plant, acquired oilseed crushing plant of Ellada, Creative Group subsidiary, for USD 21 mln. Ellada's plant has the crushing capacity of 274 thou. t of sunflower seeds p.a.