Kernel grains export in Q2 FY2022 surged by 45% YoY

Kernel, the largest agricultural holding in Ukraine founded and chaired by Andrei Verevskiy, exported 3.48 mln t of grain from Ukraine in Q2(October-December 2021) FY2022, 45% up YoY, the company's report reveals.

As reported, 59% of grain originated from external suppliers and the remaining was produced by the company's Farming segment.

"Kernel market share in grain export from Ukraine during H1(July-December 2021) FY2022 reached 17.5%," the company marks referring to the data of Stark Research.

Kernel's silo in-take volume in H1 FY2022 increased by 12% YoY, to a record high of 4.1 mln t for a half-year period, mostly reflecting larger crop size achieved by Kernel’s Farming segment in the current season.

Export terminals throughput volume in Ukraine in Q2 FY2022 surged 25% YoY to the highest ever quarterly volume of 3.0 mln t, reflecting strong grain export performance over the reporting period, the company explains.

Final crop yields for the 2021 harvest increased for all three major crops: corn, sunflower, and wheat.

To improve its crop production indicators, Kernel invests in irrigation equipment, in particular, the company signed an agreement with Variant Irrigation, a Ukraine-based manufacturer, for the supply of irrigation machinery.

Learn more: Corn Yield Three Times Higher: Kernel Profits From Water

As a reminder, Kernel announced the purchase of its shares in late January. The total worth of shares is about USD 47.85 mln.