Kernel exported 10% less grain from Ukraine in Q4 FY2021

Kernel, a company founded and co-owned by Andrey Verevskiy, in Q4 (April-June) FY2021(July 2020-June 2021) exported 1.68 mln t of grain, 10% down YoY, of which 26% was produced by the company’s farming division, and the remaining was originated from external suppliers. The slowdown in the grain export volume was caused by an overall decline in grain harvest this season.

In FY2021, the company shipped 8.01 mln t of grain to foreign markets, 1% less YoY (FY2020: 7.9 mln t).

"While full-year grain export volume is virtually unchanged standing at 8.0 mln t, Kernel market share of grain exports materially increased, reaching 18.0% for FY2021 compared to 14.3% in the previous season. Kernel remains the undisputed No 1 grain exporter from Ukraine, with the export volumes nearly two times exceeding the closest competitor," the report reads.

The company’s export terminal throughput volume in Ukraine added 1% y-o-y, to 1.9 mln tons in Q4 FY2021. Transshipment volumes exceeded the pace of grain exports from Ukraine, as Kernel substantially increased the scale of sunflower meal transshipment on its terminals in Chornomorsk by replacing 3rd party service providers. For the full FY2021 Kernel transshipped 8.2 mln t of goods through its port facilities, up 22% YoY, strengthening its position as the largest export terminal operator in Ukraine.

Silo in-take volume exceeded 3.8 mln t for FY2021, down 9% YoY, mostly reflecting the lower crop size of Group’s farming business in the current season. In Q4 FY2021, the volume of grain and oilseeds received in inland silos increased by 54% YoY, to 58.22 thou. t (Q4 FY2020: 39 thou. t).

Previously the company reported that sunflower oil export in FY2021 dropped by 10% YoY to 1.37 mln t.