Kernel loses 5 million dollars every month due to the delay in the inspection of ships by the Russians

Kernel Holding lost $57 million due to Russian delays in vessel inspections under the Grain Agreement.

Due to delays in the inspection, the company is forced to look for alternative river and land routes, which are more expensive, writes economic truth with reference to Bloomberg. According to the director of Kernel Holding, Yevhen Osypov, this costs the company approximately $5 million per month. In total, this amount is 57 million dollars.

Such costs highlight the challenges traders face when exporting through the Grains Agreement, which suffers from inspection delays and long queues.

“Who suffers the most? Ukrainian farmers who work in extremely difficult conditions. Their margin and profitability continue to decrease,” Osypov said.

Since the signing of the export agreement about a year ago, Kernel has shipped almost 3.3 million tons of grain from Black Sea ports, which is about 10% of the total volume of exports through the “grain corridor”.