Brief: Kernel Holding Q3 Oil Sales Volume Reduced 28% Y/Y To 269 Thousand Tons

Kernel Holding SA

22/04/2022 09:41

April 22 (Reuters) - Kernel Holding SA  KER.WA :
    * REPORTED ON THURSDAY OPERATIONAL UPDATE FOR Q3
    * PROCESSED 563 THOUSAND TONS OF OILSEEDS IN Q3 FY2022, DOWN
38%
Y-O-Y, WITH THE DECLINE BEING PRIMARILY DRIVEN BY THE SUSPENSION
OF CRUSHING OPERATIONS STARTING FROM 24 FEBRUARY 2022 DUE TO THE
RUSSIAN INVASION OF UKRAINE
    * ONE OILSEED PROCESSING PLANT KEEPS REFINING AND BOTTLING
OPERATIONS TO SATISFY THE DOMESTIC DEMAND FOR REFINED SUNFLOWER
OIL
    * EDIBLE OIL SALES VOLUME IN Q3 FY2022 REDUCED 28% Y-O-Y, TO
269
THOUSAND TONS, INCLUDING 28 THOUSAND TONS OF BOTTLED SUNFLOWER
OIL
    * GRAIN EXPORT VOLUME FROM UKRAINE IN Q3 FY2022 AMOUNTED TO
2.1
MILLION TONS, UP 17% Y-O-Y, REFLECTING ALMOST TWO FULL MONTHS OF
STRONG PERFORMANCE (JANUARY AND FEBRUARY) AND VIRTUALLY NO
EXPORT VOLUMES IN MARCH 2022
    * BLACK SEA PORTS REMAIN BLOCKED FOR EXPORT ACTIVITIES, AND
IT
RESULTS IN THE ABSENCE OF ACTIVE PROCUREMENT, PROCESSING AND
EXPORT OF GRAIN AND SUNFLOWER OIL
    * GROUP IS WORKING ON THE ESTABLISHING ALTERNATIVE EXPORT
ROUTES
    * NONE OF THE GROUP’S CRITICAL FACILITIES OR INFRASTRUCTURE
HAS
SUFFERED ANY SIGNIFICANT DAMAGE
    * TWO GROUP’S CRUSHING PLANTS ARE LOCATED ON THE TEMPORARILY
OCCUPIED TERRITORY, AND ACCESS TO SUCH FACILITIES IS LIMITED
    * COMMODITIES OWNED BY GROUP ARE IN SAFE CONDITION AND
PROPERLY
STORED

    
    
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 Further company coverage:  KER.WA  

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