30 March 2017
The largest Ukrainian sunflower oil producer plans to step out of its joint port terminal project with Glencore in Russian Taman.
CEO of Glencore Agriculture LTD Chris Mahoney spoke about this intention of Kernel Group during FT Commodities Global Summit in Lausanne.
From our side we can add that during latest conference call with investors Kernel CEO Andrey Verevskiy noted relatively poor results of its Russian business segment. According to latest financial report of the company total grains transshipment volume of Taman terminal in H1 FY2017 (H2 of calendar Y2016) decreased y-o-y by 22% and made 1762k tons.
Earlier we reported that Kernel is in process of part of Ukrainian Glencore farming assets acquisition.