Kernel boosts sunflower processing and oil exports in Q2 FY2024

Kernel processed 811 thousand tons of sunflower seeds in the second quarter of FY2024, up 24% YoY, the data in the company's report show.

Sunflower oil sales in Q2 FY2024 increased by 13% YoY, exceeding 388 thousand tons, on the back of the strong sunflower seed processing volumes and supported by multiple export logistics options available, including deep-water Ukrainian Black Sea ports. Bottled sunflower oil sales amounted to 6% of total sales volumes.

"Leveraging the temporary corridor for commercial navigation established by the Ukrainian Navy, Kernel was able to increase export terminal throughput volume by 11.2x q-o-q, to 1,805 thousand tons in October-December 2023. This volume covers the transshipment of grains, sunflower oil, and sunflower meal, and also includes transshipment services provided to third parties (65 thousand tons in Q2 FY2024)," the report reads.

Grain export volume from Ukraine surged by 8.4x q-o-q in Q2 FY2024, reaching 1,705 thousand tons.