Kernel group, a major Ukrainian grain and sunflower oil exporter, is set to launch the first phase (1 Mtpa) of its new grain terminal at the country’s Black Sea harbour of Chornomorsk.
The terminal is expected to reach its full capacity of 4 Mtpa by next year, by which time additional rail approach lines will be built, and wagon handling capacity expanded by 50%.
Kernel already operates a 4 Mtpa grain terminal at the port, meaning its aggregate grain handling capacity at Chornomorsk will double. To reach that goal, the firm is planning to invest US$66M in the project during the fiscal year 2019 (ending June 2019), and US$120M in FY 2019-20.
Kernel exported record-breaking 4.4 Mt of soft commodities in the first half of its 2019 marketing year, up 30% year-on-year. The company plans to double its volumes by the end of the season.
Kernel is the world’s largest producer and exporter of sunflower oil, responsible for about 8% of world production. It increased the volumes of its sunflower oil sales by 8% this season to 777,000t, with the growth driven by greater exports to Iraq, India, and China.