PJSC “Chernivtsi Oil and Fat Plant” (COFP), part of the Vioil Group, reduced its net loss by 47.9% in January–June 2026 compared to the same period in 2025, bringing it down to 48.8 million UAH.
According to the company’s disclosure in the National Securities and Stock Market Commission (NSSMC) reporting system, its net revenue from product sales for the first half of the year increased by 33.9% to 319.6 million UAH.
According to the financial statements, in January–June of this year, the company recorded a gross profit of 0.5 million UAH, compared to a gross loss of 40.9 million UAH for the same period last year, while the operating loss decreased by 46.8% to 49.1 million UAH.
The document notes that in the second quarter, the Chornomorsk Oil and extraction complex, increasing its capacity to 1,800 metric tons per day of sunflower seeds, compared to the current capacity of 500 metric tons per day. Work has already been completed on developing a feasibility study, including visualizations, for this construction project.
In addition, a project was developed to modernize the DKVR -20-13 boiler has been developed to reduce the burning of hulls, and equipment has been procured to implement a scheme for granulating oilcake prior to extraction, with the aim of increasing the oil extraction unit’s capacity and reducing costs by lowering the oil content of the meal.
As noted in the report, by the end of the second quarter of 2026, 12.29 thousand metric tons of sunflower seeds and 5.93 thousand metric tons of soybeans had been processed; production volumes of unrefined sunflower oil totaled 5.47 thousand metric tons; crude soybean oil production was 1.38 thousand metric tons, sunflower meal production was 4.82 thousand metric tons, and soybean meal production was 4.49 thousand metric tons. Production of refined and deodorized sunflower oil totaled 0.05 thousand metric tons.
It is noted that the capacity utilization rate of the oil extraction plant for the second quarter of 2026 was 52.15%, that of the oil refining shop was 0.92%, and 0.86 thousand metric tons of granulated sunflower hulls were produced. Part of the hulls is burned in the plant’s boiler room; the steam generated is used to power the plant’s production processes and to heat the facilities. During the reporting period, 6.01 thousand Gcal of thermal energy were generated.
As of June 30, 2026, the plant had 1.2 million UAH in its accounts, compared to 8.3 million UAH at the beginning of the year. At the same time, the enterprise had no bank loans—neither long-term nor short-term.
The ChozhK complex includes an oil extraction shop with a capacity of 500 metric tons of sunflower seeds per day (actually processing 470–490 metric tons per day), seed storage facilities for 7,500 metric tons, and metal silos for 2,400 metric tons, a 2,000-metric-ton meal elevator; a hull pelletizing section with a capacity of up to 45 metric tons per day; and oil storage tanks with a capacity of up to 5,000 cubic meters.
The average number of employees at the plant in the first half of 2026 was 313.
The company is part of the “Vioil” industrial group—one of Ukraine’s leading producers of sunflower oil.
In 2025, ChOZhK reported revenue of 768.4 million UAH, which is 51.2% less than in 2024, and a net loss of 144.1 million UAH, compared to a net profit of 14.3 million UAH a year earlier.
OIL, PROCESSING, SUNFLOWER, VIOIL, ЧОЖК
In its August forecast, the U.S. Department of Agriculture (USDA) lowered its forecast for soybean and soybean meal exports from Ukraine in the 2026/2027 marketing year (marketing year, September 2026–August 2027) by 0.25 million metric tons—to 2.15 million metric tons and 1.25 million metric tons, respectively.
The USDA attributes these changes to a reduction in planted acreage and a decline in this year’s soybean harvest.
Overall, the forecast for oilseed exports from Ukraine in the 2026/2027 MY has also been reduced by 0.25 million metric tons—to 4.85 million metric tons—but this is higher than the 4.24 million metric tons in the 2025/2026 MY, although significantly lower than the 7.39 million metric tons recorded the year before.
As for oilseed processing, the U.S. Department of Agriculture expects it to reach 16.9 million metric tons in Ukraine during the 2026/2027 marketing year, which is 0.3 million metric tons less than in the July report. This is higher than the figures for both the 2025/2026 marketing year (14.8 million metric tons) and the 2024/2025 marketing year (15.7 million metric tons).
The USDA also lowered its estimate for sunflower oil exports from Ukraine in the 2025/2026 marketing year by 0.275 million metric tons, to 4.1 million metric tons.
All other estimates for harvest, processing, production, and exports for the 2025/2026 and 2026/2027 marketing years remain unchanged.
Thus, the overall forecast for vegetable oil exports from Ukraine in the 2026/2027 marketing year remains at 6.13 million metric tons, compared to 5.15 million metric tons in the 2025/2026 marketing year, including, respectively, sunflower oil at 4.95 million metric tons versus 4.1 million metric tons, sunflower meal at 3.3 million metric tons compared to 2.9 million metric tons in the 2025/26 marketing year, and sunflower seeds at 0.1 million metric tons versus 0.04 million metric tons
According to estimates by the U.S. Department of Agriculture, sunflower processing in Ukraine this marketing year will increase to 12.775 million metric tons from 10.8 million metric tons a year earlier, domestic consumption of sunflower meal will rise to 1.875 million metric tons from 1.65 million metric tons, and oil consumption will increase to 0.47 million metric tons from 0.455 million metric tons.
The USDA forecasts this year’s sunflower harvest at 13 million metric tons, with sunflower oil production at 4.418 million metric tons and meal production at 5.204 million metric tons.
Ukraine exported 35,000 metric tons of sunflower seeds in the 2025/2026 marketing year, according to the Ukrainian Grain Association.
The association noted that sunflower seeds have traditionally been processed primarily within the country.
Total exports of oilseeds in the 2025/2026 marketing year declined: Ukraine exported 2.7 million metric tons of soybeans, 1.82 million metric tons of rapeseed, and 35,000 metric tons of sunflower seeds.
Ukraine is seeing a steady trend toward reducing acreage for grain crops in favor of oilseeds, driven by a significant difference in their profit margins, said Maksym Kharchenko, an analyst at the information and analytical agency “UkrAgroConsult.”
“The profitability of wheat production, and of grains in general, is currently lower than that of oilseeds. This trend has been clearly evident over the past few seasons. While before the full-scale invasion, the area under wheat was significantly larger than that under sunflowers, the situation has changed since 2023: sunflower crops in Ukraine have become more stable and extensive than grain crops,” he said during the Black Sea Grain.Kyiv conference on Wednesday.
According to UkrAgroConsult, the profitability of wheat cultivation in the current season is less than 30%, while for sunflowers this figure reaches about 50%. The profitability of other oilseed crops—rapeseed and soybeans—remains at a similarly high level.
The analyst emphasized that despite the loss of some territories, the area under oilseed crops has not only recovered but, in some segments, has exceeded pre-war levels. This reflects farmers’ strategic shift away from grains in favor of more profitable crops.
According to the infographic, the crop mix of major export crops in Ukraine is shifting in line with profitability indicators. Until 2022, wheat led in terms of acreage, but its unprofitability—at -14.9% in 2022 and -1.8% in 2023—forced farmers to rethink their priorities. The graph shows a so-called “inflection point” in the 2022/23 season, after which sunflowers finally surpassed wheat. Currently, it offers the highest profitability at 48%, while the profitability of wheat and corn stands at only 26% and 23%, respectively, which serves as an incentive for farmers to further expand the acreage under oilseed crops.
“We are seeing an increase in production across all oilseed crops. In particular, we expect the sunflower harvest (in the 2026/2027 season – IF-U) to grow to 13.7 million tons due to better yields and increased acreage,“ forecasts ”UkrAgroConsult.”
Purchase prices for sunflower seeds in Ukraine rose by 500 UAH/ton over the week and currently stand at 31,000–32,000 UAH/ton (or $620–640 per ton excluding VAT for 50% oil content) delivered to the plant, according to the Ukrainian Electronic Grain Exchange.
Analysts noted that the positive trend is driven by a $5 per ton increase in the price of Ukrainian sunflower oil—to $1,295–1,305 (delivery to Black Sea ports)—amid rising demand from the biofuel industry.
At the same time, oil is a global growth driver, with prices exceeding $100 per barrel following U.S. President Donald Trump’s televised address. The promise to end the war with Iran within two to three weeks failed to meet analysts’ expectations of an immediate cessation of attacks and a shift to negotiations, keeping energy prices at high levels.
“Processors continue to actively build up sunflower seed stocks amid increased sales by farmers, hoping for further growth in sunflower oil prices following other vegetable oils in the near future. At the same time, demand for meal has not yet increased, as feed grain prices remain stable at low levels, and South America is increasing its supply of soybean meal,” exchange experts said.
According to experts, due to low processing rates in the first half of the season, as of March 1, sunflower stocks in Ukraine stood at 3.5 million tons, which is 1.4% higher than last year’s figure. This will allow for an increase in production rates, full utilization of plant capacity before the start of the rapeseed season in July, and taking advantage of favorable global market conditions.
At the same time, competition from South America is expected to intensify in April, as buyers actively shift their focus to the new harvest. As of March 27, Argentina had already harvested 61% of its sunflower acreage and is increasing exports to the EU. In Brazil, 75% of the soybean acreage has been harvested (compared to 82% last year), and the export forecast for March stands at 16 million tons, compared to 10.7 million tons in February.
According to the Ukroliyaprom association, sunflower oil production in Ukraine for the 2025/2026 marketing year is projected at 4.6 million tons, which is 10% less than the previous season’s figure. Exports may decline by 6.4% to 4.4 million tons amid the lowest sunflower yield in the last 10 years. At the same time, foreign exchange earnings from exports are rising due to favorable global prices.
Sunflower prices in Ukraine rose by 500 UAH per week
In the 2026 season, the Agrain agricultural holding increased its spring crop acreage by 1.23 times compared to 2025—to over 33,000 hectares.
According to a statement by the agriholding’s press service on Facebook, corn and sunflowers will remain the main crops in the planting mix. The area planted with corn will nearly double compared to 2025 levels, reaching over 25,000 hectares. The expansion of this crop will occur primarily in the Chernihiv, Cherkasy, and Zhytomyr regions.
At the same time, the company will reduce the area under sunflowers by nearly 39%—to 8,000 hectares—due to crop rotation requirements and consideration of climatic risks.
The crop mix will also retain 2,000 hectares of niche crops, including coriander, flax, and lentils. The company noted that these are used to improve crop rotation and restore soil fertility.
Agrain attributed the changes in its production plans to a combination of market priorities—specifically, rising demand for corn—as well as agronomic factors, such as stable yields and moisture levels.
Agrain is engaged in the cultivation and storage of grain and oilseed crops, as well as livestock farming. Prior to the full-scale Russian invasion, the agricultural holding comprised 11 agricultural enterprises. It cultivated approximately 110,000 hectares in the Zhytomyr, Kharkiv, Chernihiv, Odesa, and Cherkasy regions.
The holding’s owner is SAS Investcompagnie (France).
