Kernel Agro Group is completing the construction of Starokonstantinov Oil Extraction Plant (SEP) in Khmelnitsky Oblast, CEO of the agro-holding Evgeniy Osipov said at the Grain Ukraine-2023 international grain conference.
“As early as next year, we will finish the construction of the Starokonstantinovsky Oil Extraction Plant, which will be able to process 1 million tons of sunflower annually,” he said in a statement on the company’s Facebook page on Wednesday.
According to Osipov, Kernel has invested more than $800 million in the Ukrainian market over the past few years.
“Each of our initiatives is implemented with the goal of strengthening the country’s agricultural potential. We must be ready to accept the products of Ukrainian farmers in time. We must provide all necessary services to our agrarians so that they can sell their products, get the necessary resources and invest them into production,” he stressed.
Osipov clarified that “Kernel” intends to increase the volume of processing and production of products with added value. To do this it is important to build effective logistics for the company’s partners to export their products.
“Our task is to increase the efficiency of the business system,” explained the CEO of Kernel.
As reported, in February 2023, “Kernel” acquired the river terminal “Danube Prom Agro” in the Ukrainian port of Reni on the Danube.
Kernel Agro Holding before the war was the world’s number one producer of sunflower oil (about 7% of world production) and its exports (about 12%). The company is one of the largest producers and sellers of bottled oil in Ukraine. Kernel is also involved in crop growing and sales of agricultural products.
The largest co-owner of Kernel, through Namsen Ltd. – Ukrainian businessman Andrei Verevskyi, with a 41.3% stake, has recently proposed Kernel’s delisting from the Warsaw Stock Exchange and a buyout of its shares from other shareholders.
For the first half of fiscal 2023 (FY, July-December 2022), Kernel cut its net profit by 12.6% YoY to $370.3
