The US Department of Agriculture (USDA) increased its forecast for the exportation of vegetable oils from Ukraine in the current trading season to 6.4 million tons. It is noted that sunflower oil will account for the increase in export volume, the supply of which to foreign markets will amount to 5.7 million tons (+100,000 tons). The sunflower meal export forecast is 4.7 million tons (+50,000 tons).
At the same time, experts increased their estimate of sunflower oil production to 6.065 million tons (+45,000 tons) and sunflower meal by 43,000 tons, to 5.825 million tons.
Meanwhile, Kernel processed 811,000 tons of sunflower seeds in the second quarter of fiscal 2024, up 24% from last year, when the company’s operations suffered due to power outages.
Moreover, two of the agricultural holding’s eight factories located in the Kharkiv region remain closed. The company maintains high processing volumes that are achieved through various export logistics options, including the Black Sea ports.