Kernel to increase its leasehold farmland bank to 0.7 mln ha: Verevskiy

The largest agricultural holding in Ukraine, Kernel, is set to increase its leasehold farmland bank to 0.7 mln ha over the coming years. This is announced in the annual report by the Group's Chairman and founder Andrei Verevskiy.

He marks that Kernel's land bank expansion will occur primarily through mergers and acquisitions, rather than through the opening of new businesses, which was a cornerstone of the company's 2021 strategy.

"Our geographic focus remains intact with 100% of planned investments to be solely deployed in Ukraine. At the same time, our Avere subsidiary will remain an important part of Kernel business bringing the global expertise in-house," he adds.

In the framework of the New Strategy 2026, a new action plan for the next five years includes ambitious targets to reach 6 million tons of annual sunflower seed processing and 15 mln t of grain export from Ukraine, Andrei Verevskiy specifies.

Currently, the company's land bank sums 506 thou. ha.