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.
Read the article online at: https://www.drybulkmagazine.com/ports-terminals/20042017/kernel-holding-grain-exports-total-1-390-180-t/