Ukraine: Kernel oilseeds crushing 12% down, edible oil sales 14% lower YoY in H1 FY2022

Published Jan 21, 2022

Tridge summary

In the second quarter of FY2022, Kernel, Ukraine's largest agricultural holding, experienced a 6% year-over-year decrease in edible oil sales, totaling 399,000 tons. This includes 19,000 tons of rapeseed oil and 36,000 tons of bottled sunflower oil. The company's overall edible oil sales in the first half of FY2022 fell by 14% YoY, reaching 619,450 tons. Kernel also processed 985,000 tons of sunflower seeds in Q2 FY2022, marking a 2% YoY decrease, attributed to stronger post-harvest control by farmers following a highly profitable previous season. The Ukroilprom forecasts a 24.1% increase in sunflower oil production in Ukraine for the 2021/22 season, anticipating an output of over 7.2 million tons.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In Q2 FY2022, Kernel, the largest agricultural holding in Ukraine founded and chaired by Andrei Verevskiy, edible oil sales volume reduced 6% YoY, to 399 thou. t, including 19 thou. to of rapeseed oil and 36 thou. t of bottled sunflower oil. During H1 FY2022, edible oil sales by the company dropped by 14% YoY to 619.45 thou. t, the report reads. Kernel processed 985 thou. t of sunflower seeds in Q2 FY2022, down 2% YoY, as farmers this season have relatively weaker post-harvest pressure to sell the oilseeds given the highly profitable previous season. "Accounting also for the undermined performance in Q1 FY2022 as compared to the same period of the previous year, H1 FY2022 processing volume ended up 12% down YoY," says the company. In H1 FY2021, Kernel crushing plants processed 1.66 mln t of oilseeds, whereas in H1 FY2022 this indicator scaled down to 1.46 mln t. The Ukroilprom projection for sunflower oil output in Ukraine in 2021/22 is 24.1% up ...

Source: Latifundist