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.
The total transit of grains and oilseeds from Ukraine through neighboring Moldova, Slovakia, and Hungary increased by 46.5% in September compared to August, but the bulk of the increase came from Moldova and Slovakia, Ukraine’s Minister of Agrarian Policy and Food Taras Vysotsky told reporters in Kyiv on Thursday.
According to his data, transit through Moldova rose by 59.7%—to 107,000 metric tons in September from 67,000 metric tons in August; through Slovakia—by 61.5%, to 336,000 metric tons from 208,000 metric tons; and through Hungary—by 8.5%, to 115,000 metric tons from 106,000 metric tons.
“An increase is possible; we’ll see how much. We’re working on all fronts,” Vysotsky emphasized.
At the same time, he refrained from making any forecasts.
“We’ll report the actual results every month,” the minister noted.
Regarding the prospects for opening a maritime grain corridor, the head of the Ministry of Agrarian Policy stated that “there are currently no signals from our partners that could be interpreted as providing any kind of planning horizon.”
“The situation remains unchanged—no more, no less,” Vysotsky said.
Earlier, the minister reported that in September, Ukraine managed to export 2.4 million metric tons of agricultural products, or 46% of what was supposed to be exported, including 1.4 million metric tons of grain (38%), 444,000 metric tons of oilseeds (83%), oil—311,000 metric tons, or 64%, and meal—280,000 metric tons, or 46% of the potential required exports.
EXPORTS, GRAIN, HUNGARY, MOLDOVA, SLOVAKIA, TRANSIT, UKRAINE
Overall, Ukrainian agricultural exports have currently fallen by 50–60% of their potential volume due to significant complications and rising logistics costs, while one of Ukraine’s largest agricultural exporters—Nibulon Joint Venture LLC—has managed to limit the current monthly decline to 25–30%, according to Volodymyr Slavinsky, trade director at the agricultural company Nibulon.
“As for our company, our monthly export volumes are currently declining—let’s put it this way—by approximately 25–30% compared to last year or to the levels seen before June, which we consider a decent result and see potential for growth. But overall, across the industry, the rate of decline is reaching 50–60% of what it should be today,” he noted during a panel discussion on the agricultural sector at the fourth annual “Economic Truth” export forum in Kyiv on Wednesday.
According to an Interfax-Ukraine correspondent, based on Nibulon’s estimates, due to the slowdown, Ukraine is currently exporting only about 2 million metric tons of agricultural products per month, despite a potential of 5–6 million metric tons under normal economic conditions, which significantly undermines the financial stability of agricultural producers and their ability to sustain operations and the planting season.
Slavinsky emphasized that logistics via the Danube and alternative overland routes have become significantly more complicated and expensive in recent years. In particular, since farmers in the central regions are unable to independently organize complex logistics to European ports or rail stations, logistical functions have fallen entirely on large companies and traders.
“To maintain a stable pace of shipments and daily deliveries, the company currently spends nearly 20% or more of its working capital on logistics. The cost of shipping by sea has increased fivefold—to $100 instead of $20—and delivery times have risen from 7 to 30 days. This means that there are far more goods in transit, and the costs associated with goods in transit are significantly higher,” he said.
To address these issues, “Nibulon” is initiating the creation of a mechanism for state and international financial guarantees that would allow Ukrainian businesses to obtain prompt financing from Western banks at reasonable interest rates.
Among other critical issues in Danube and maritime logistics, the Nibulon representative cited a labor shortage and the lack of practical opportunities for Ukrainian seafarers to obtain the required “Danube certificates,” which makes it more profitable for Ukrainian companies to change their fleet’s flag than to operate under the Ukrainian flag. In addition, the expansion of land-based exports via rail and road is hampered by significant tariff increases and restrictions imposed by neighboring EU countries.
At the same time, the company noted that Ukrainian agricultural producers have already demonstrated their ability to adapt quickly to extremely challenging conditions; however, the sector’s future trajectory will depend on the availability of financial capital and systematic support from the government and international partners.
As previously reported, due to operational restrictions at Black Sea ports, nearly half of Ukraine’s agricultural exports (approximately 32 million metric tons of produce with an estimated value of about $10 billion) are at risk. In October 2026, Minister of Agrarian Policy Taras Vysotsky discussed with Fatma Jeren Yazgan, the Turkish Ambassador to Ukraine, the possibility of Ankara’s assistance in restoring safe and stable shipping in the Black Sea, noting that alternative routes (the Danube, rail, and road transport) are unable to fully replace maritime exports, and prolonged restrictions will lead to a reduction in planted areas.
In addition, according to the consulting firm Spike Brokers, in September 2026, grain shipments by rail to Ukrainian ports fell by 38.6% compared to August—to 177,600 metric tons. Specifically, grain shipments to the ports of Greater Odesa fell by 46.5% (to 35,000 metric tons), and to the export port of
Izmail—by 42.3% (to 42,600 metric tons). In total, Ukraine exported 3.035 million metric tons of agricultural products (UKT ZVD groups 01–24) in September, worth $1.563 billion, of which 1.481 million metric tons were grains (wheat, corn, barley). At the same time, the share of land crossings continues to grow—in September, 664,500 metric tons were shipped via these routes, or about 85% of all rail grain exports.
According to the Serbian business media outlet Parametar, a serious train accident occurred in Croatia on October 10 on the approach to the Meja station near Rijeka. Freight train No. 82318, operated by Transagent and carrying a grain cargo toward Rijeka, derailed.
According to official data from HŽ Infrastruktura, the accident occurred around 9:25 a.m. on the incoming track at Meja Station. Eleven cars derailed and ended up in a deep ravine. The locomotive and two other cars remained at the station. There were no injuries, but significant property damage was caused to the railway infrastructure, and the Plase–Meja section is closed to traffic.
The Croatian Agency for the Investigation of Incidents in Air, Maritime, and Rail Transport (AIN) has launched an investigation into the circumstances of the accident. The agency confirmed that a report of a serious incident was received on October 10 at approximately 9:25 a.m. and concerned the derailment of several cars of train No. 82318 on line M202.
According to the Croatian publication Novi list, 11 cars were loaded with grain, presumably of Ukrainian origin. However, an official statement from HŽ Infrastruktura confirms only the transport of grain and does not specify the country of origin of the cargo.
A preliminary theory under consideration is that the locomotive’s brakes failed.
The train belonged to the carrier Transagent Rail, part of the Transagent logistics group based in Rijeka. The company specializes in rail and multimodal freight transportation in Central and Southeastern Europe.
The investigation into this accident is ongoing. The exact causes of the derailment are to be determined by AIN experts.
Source: HŽ Infrastruktura, Croatian Agency for the Investigation of Accidents in Air, Maritime, and Rail Transport (AIN), Novi list.
Global grain trade in the 2026/27 agricultural year (July–June) will total 505.8 million metric tons, down 3.5% from last year, according to a forecast by the FAO (Food and Agriculture Organization of the United Nations).
According to the organization’s monthly grain report, the new estimate is 3.5 million metric tons lower than the previous forecast made in September. “This reflects a downward revision of wheat and corn export forecasts, driven primarily by shipping difficulties through the Black Sea and insufficient capacity on alternative transport routes,” the report states. “The upward revision to the barley trade forecast only partially offsets the lost corn and wheat trade volumes.”
Forecasts for corn exports from the EU were lowered due to reduced supply from Ukraine resulting from logistical difficulties. At the same time, an increase in export supply from Australia has allowed for an upward revision of the forecast for barley trade, a significant portion of which will be shipped to China.
The improved forecast for wheat exports from Kazakhstan has not fully offset the decline in shipments from Russia and Ukraine.
According to the forecast, international rice trade will decline by 2.2% in calendar year 2026; however, it may increase by 1.7% in 2027, reaching 61.2 million metric tons. “In 2027, a recovery in import demand is projected in most regions; however, the availability of sufficient domestic stocks in East Asian countries suggests that the downward trend in their purchasing volumes may continue for the third consecutive year,” the document states.
According to the FAO forecast, the wheat harvest in 2026 will total 813.9 million metric tons, which is 3.3% less than last year, while the total grain output will be 2 billion 979 million metric tons (2.1% less).
As of September 29, Ukrainian farmers had harvested 34.3 million metric tons of grain and legumes from 7.1 million hectares, or 61% of the projected area, according to the press service of the Ministry of Agrarian Policy and Food.
The average yield for grains and legumes is 48.2 centners per hectare.
The harvest of wheat, barley, and peas has already been completed. A total of 26 million metric tons of wheat were harvested from 5.11 million hectares at an average yield of 50.8 centners per hectare; barley—6.6 million metric tons from 1.48 million hectares (44.6 tsentner per hectare), and peas—812,300 metric tons from 301,900 hectares (26.9 tsentner per hectare).
Corn harvests totaled 789,000 metric tons from 153,300 hectares at a yield of 51.5 centners per hectare; millet—75,400 metric tons from 32,800 hectares (23 centners per hectare); and buckwheat—44,700 metric tons from 34,700 hectares (13 centners per hectare).
The largest volumes of grains and legumes were harvested by farmers in the Odesa region—5.6 million metric tons, the Dnipropetrovsk region—2.76 million metric tons, and the Mykolaiv region—2.65 million metric tons.
At the same time, farmers harvested over 8.4 million metric tons of oilseeds. In particular, the rapeseed harvest is complete—3.87 million metric tons were harvested from 1.33 million hectares at a yield of 29.1 centners per hectare. Sunflower seeds yielded 3.36 million metric tons from 1.66 million hectares (20.3 centners per hectare), and soybeans yielded 1.22 million metric tons from 571,400 hectares (21.3 centners per hectare).
The sugar beet harvest is ongoing: 296,500 metric tons have been harvested from 5,800 hectares at an average yield of 511.2 centners per hectare.
