Kernel crushing plants processed 33% less oilseeds in Q4 FY2021

Kernel, a company founded and co-owned by Andrey Verevskiy, processed at its oil-extraction plants 617.5 thou. t of oilseeds in the last quarter (April-June) of FY2021(July 2020-June 2021), a 33% decline YoY, due to a weak supply of feedstock given the low 2020 harvest of sunflower seeds(13.1 mln t) in Ukraine.

As per the company's report, full-year crushing volume totaled 3.18 mln t, down 7% YoY, implying 87% crushing capacity utilization (including tolling on thirdparty-owned oilseed processing plant of 97 thou. t).

The volume of sunflower oil sold in Q4 FY2021 amounted to 273.14 thou. t, down 44% YoY, in line with production volume decrease. Full-year sunflower oil sales dropped by 10% YoY to 1.37 mln t (FY2020: 1.51 mln t).

In the 2021 growing season, Kernel plans to produce sunflower and corn on 415,000 ha.

Previously reported that Kernel increased capital expenditures the construction of the oilseed processing plant involves.