Ukraine. Kernel sunoil sales surge 8.2% for H1 18/19, crush hits Q2 record

22.01.2019

Kernel, the world's biggest sunseed crusher, saw the volume of oilseeds it processed rise 3.3% and its sunoil sales surge 26.2% in the three months ended December as the company set a new crushing record and ran its plants at full capacity, the company said in an announcement on Monday.

The figures mean that for the first half of the company’s financial year, crushing reached 1.359 million mt, down 6.5% on the same corresponding period, while sunoil sales over the six months rose 8.2% on the year to 776,545 mt.

Avere, Kernel’s Geneva-based trading arm that is named after founder, chairman and former Ukrainian lawmaker Andriy Verevskyy, reported physical trading volumes of 1.11 million mt of grain, oilseeds, meals and vegetable oils over the quarter, taking the total for the half year to 2.72 million mt.

Avere, which also has offices in Miami, Florida, has been a major supplier of US soybeans to Argentina’s crushing facilities following the drought last year that hit the nation’s domestic supply.

Last month, Kernel attracted $250-million of project financing from the European Investment Bank to upgrade its existing oilseed processing plants, build a new one, build inland grain storage facilities and construct a grain handling and storage terminal in the port of Chornomorsk.


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