“Kernel,” one of Ukraine’s largest agricultural holdings, reduced oilseed processing by 32% in the fourth quarter of fiscal year 2026 (FY, April–June 2026) reduced oilseed processing by 32% compared to the same period last year—to 645,000 metric tons, the company reported in its operating report on Monday.
“The total volume of oilseed processing for FY 2026 amounted to 3.185 million metric tons, which is 8% less than in FY 2025, due to limited availability of sunflower seeds on the domestic market as a result of one of the worst sunflower harvests in Ukraine in the last decade,” the document states.
At the same time, Kernel noted that this decline was partially offset by the processing of alternative oilseeds, particularly soybeans and rapeseed.
According to the report, sales of edible oil in the fourth quarter fell by 12% to 338,000 metric tons, reflecting a decline in oilseed processing volumes during the quarter.
“However, sales remained relatively high thanks to the sale of vegetable oil inventories accumulated in previous quarters. Total sales of edible oil for fiscal year 2026 reached 1.407 million metric tons, which is 2% more than in fiscal year 2025,” the report states.
Bottled sunflower oil accounted for 14,000 metric tons of the quarterly total, compared to 19,000 metric tons in the previous quarter.
At the same time, the volume of grain stored in elevators (silos) from April through June of this year totaled 320,000 metric tons, compared to just 34,000 metric tons during the same period last year. As a result, the Group’s total grain intake for the 2026 marketing year reached a record high of 4.341 million metric tons, which is 60% more than in the 2025 marketing year.
“The year-over-year growth was primarily driven by a higher share of corn in the Group’s 2025 harvest mix, which led to an increase in grain processing volumes, as well as a rise in grain intake from third-party suppliers,” the document states.
Kernel’s grain exports from Ukraine in the last quarter of fiscal year 2026 totaled 2.011 million metric tons, which is 33% more than in the previous quarter and more than double the figure for the corresponding period of the previous year. “This was driven by an increase in grain supply on the domestic market, as farmers accelerated grain sales toward the end of the season. Total grain exports from Ukraine for fiscal year 2026 reached 6.265 million metric tons, which is 15% more than in fiscal year 2025,” the report notes.
Transshipment through export terminals in the fourth quarter of fiscal year 2026 totaled 2.699 million metric tons, which is 3% more than in the previous quarter and 49% higher than in the fourth quarter of fiscal year 2025. Of this volume, grain accounted for 80%, edible oils for 12%, and the remainder consisted of vegetable meal.
“For the year, Kernel’s terminals handled a record 9.587 million metric tons of agricultural products, a 5% increase from the previous year, thanks to significant grain exports in the second half of the fiscal year,” the document states.
Kernel Agricultural Holding is the world’s largest producer and exporter of sunflower oil, Ukraine’s largest grain exporter, the operator of an extensive network of logistics assets, and a leading producer of grains and oilseeds in Ukraine. It is one of the largest producers and sellers of bottled oil in Ukraine. It is engaged in the cultivation and sale of agricultural products.
For the first nine months of fiscal year 2026, Kernel reported a 5% decline in net income to $208 million, while its revenue increased by 0.4% to $3.092 billion and EBITDA rose by 1% to $403 million.
