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Kernel Holding: grain exports total 1 390 180 t

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Dry Bulk,

Kernel Holding S.A. has released the company’s operations updated for the three months ending 31 March 2017, which included the following highlights:

  • Grain exports remained marginally flat, down 1.7% y-o-y in Q3 FY2017, as the company continued to use the export terminals at nearly full capacity.
  • Sunflower oil sales in bulk amounted to 294 000 t, 8.2% lower y/y, as sales shift more to the fourth quarter of the current financial year.
  • Bottled sunflower oil sales increased by 21.3% y-o-y in Q3 FY2017, as acceleration of exports continued, in order to compensate for the sluggish domestic demand.
  • Oilseed crush increased to 860 000 t in Q3 FY2017, up 22.2% y/y, reflecting near full usage of the crushing plants on account of record sunflower seed harvest in Ukraine.
  • Export terminals continue to set records with transshipment volumes amounting to 1.6 million t in Q3 FY2017, a 9.7% increase y/y, explained by practically full use of the Ukrainian facilities and improved performance of joint venture in Taman.
  • Winter wheat and rapeseed are in good condition, and the spring planting campaign is ongoing.
  • Total acreage sown for FY2018 is scheduled to be 381.9 thousand hectares, negligibly lower than 385.6 thousand hectares a year ago. Crop mix remained virtually unchanged for FY2018 with winter wheat at 22% (vs. 21% in FY2017), corn - 37% (vs. 36% in FY2017), sunflower – 22% (vs. 21% in FY2017). Acreage under soybeans decreased to 12% in FY2018 (vs. 15% in FY2017) and rapeseed increased to 1.9% (vs. 0.7% in FY2017) of total areas in FY2018.

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