“Kernel” has doubled the volume of grain exports since the beginning of the year

Since the beginning of 2024, the capacity of the company’s export terminals has increased to 2.4 million tons of agricultural products.

The export of agricultural products by the “Kernel” company increased 2.3 times from January to March 2024. This figure was 2.4 million tons of grain, oil and meal, Latifundist reports .

The growth of export volumes was facilitated by the increase in transshipment of sunflower oil through port terminals purchased at the beginning of the season, as well as the provision of transshipment services to third parties.

In particular, in the 2nd quarter of 2023/24, MY “Kernel” processed 811,000 tons of sunflower, showing a significant increase of 24% compared to the previous year. The company’s consolidated revenue then fell 16% year-over-year to $1,044 million. This is due to lower prices for grain and sunflower oil.

In the 3rd quarter of 2023/24, MY “Kernel” processed 816,000 tons of sunflower, which is 10% more than last year. Since the beginning of 2024, sales of sunflower oil have increased by 44% compared to the same period last year, reaching 394 thousand tons. This affected the overall result of 1.1 million tons for 9 months of FY2023/24.

Recently, USM wrote that Kernel shares on the Warsaw Stock Exchange increased by another 24%.

We will remind, at the beginning of 2024, the capitalization of “Kernel” increased to almost $700 million.