In the first quarter of fiscal year 2027 (FY, July 2026–June 2027) processed 564,000 metric tons of oilseeds, a 1% increase compared to the first quarter of FY 2026, while oil sales volume fell by 48% compared to the same quarter of the previous fiscal year, to 165,000 metric tons.
“Although oilseed processing volumes remained generally stable compared to last year, sales figures were significantly impacted by disruptions in port logistics: for most of the quarter, shipments through Black Sea ports were effectively blocked,” the company stated in a stock exchange announcement on Friday.
“Kernel” clarified that, compared to the previous quarter, processing volumes decreased by 13% due to scheduled maintenance work that lasted one month, while oil sales fell by 52%. Sunflower seeds accounted for 59% of total processing volume, while soybeans and rapeseed made up the remainder, which helped maintain overall capacity utilization.
Of the total volume of products sold, 16,000 metric tons were packaged sunflower oil.
According to the press release, the volume of grain and oilseed crops received at Kernel’s elevators in the first quarter of FY 2027 totaled 969,000 metric tons, which is 21% less than in the same period last year and is attributed to a slower pace of corn harvesting on the group’s farms.
Kernel’s grain exports from Ukraine in the first quarter of fiscal year 2027 totaled 574,000 metric tons, down 54% compared to the same period last year and 71% lower than the previous quarter, the report states.
“Export operations were significantly restricted due to disruptions in maritime logistics caused by Russian attacks on Ukraine’s port infrastructure and commercial vessels. In response, the Group rerouted part of its export flows through ports on the Danube and Ukraine’s western land borders,” Kernel noted.
At the same time, the company clarified that, given the lower throughput capacity and higher logistics costs, these routes were only able to partially offset the losses in exports through Black Sea ports.
It is noted that the performance of export terminals was similarly affected: in the first quarter of 2027, transshipment volume totaled 742,000 metric tons, which is 59% less than in the same period last year and 73% less than in the previous quarter. Operations at Kernel’s port facilities, which were damaged during the attacks in July, were suspended, while general disruptions to shipping through Ukraine’s deep-water Black Sea ports further limited throughput capacity. Restoration work continued throughout the reporting period, but frequent and prolonged air raid alerts repeatedly interrupted the repair process, the statement said.
Before the war, the Kernel agricultural holding was the world’s leading producer of sunflower oil (accounting for about 7% of global production) and its exporter (about 12%). It is one of the largest producers and sellers of bottled oil in Ukraine. In addition, it is engaged in the cultivation and sale of agricultural products.
Based on its 2026 financial results (July 2025–June 2026), Kernel increased its EBITDA by 20% to $558 million and its net profit by 35% to $322 million, with revenue growing by 7% to $4.404 billion.
