Kernel silo in-take volume slid by 19% in Q1 FY2022 due to delayed harvest

Kernel, the largest agricultural holding in Ukraine founded and chaired by Andrei Verevskiy, received 1 mln t of grains and oilseeds at its storage facilities in Q1(July-September 2021) FY2022, 19% less YoY.

The reduction of silo in-take volume by Kernel is explained by the delayed harvesting campaign for corn and sunflower.

Grain export volume from Ukraine in July-September 2021 increased by 5% YoY, to 2.2 mln t, of which 86% was grain originated
from external suppliers and the remaining was produced by Group’s Farming segment, the report reads.

Kernel export terminals throughput volume in Ukraine amounted to 2.2 mln t, up 18% YoY, reflecting the growth in the transshipment of grain and sunflower meal.

In 2021/22, the company expects crop yields to increase for all three major crops: corn, sunflower, and wheat.

Kernel reported a 27% lower oilseeds processing in Q1 FY2022.

As of 21 October, the harvesting campaign in Ukraine progressed to 76% of the projected area. The new crop volume reached 56.3 mln t using the average yield of 4.62 t/ha.