Bolstering investor confidence in Kernel are a series of numbers released yesterday

Bolstering investor confidence in Kernel are a series of numbers released yesterday: FY2020 EBITDA was up 28% yoy to $443 million; grain exports were up 30% last year to 7.9 million; and exports are to increase another 20% in the year ending June 31. Although drought is cutting this year’s sunflower harvest by 14%, rising prices may compensate. “Competition for raw materials will intensify,” Andrey Verevsky, Kernel’s chairman, predicts in the new annual report. “The upward trend in global commodity prices will partially offset the downward pressure on profitability of all our segments in the new season.”