Corn in Romania, Serbia and Hungary, countries which use for delivery Constanta harbour was exported in November at FOB ( without shipping and insurance expenditure) 120 euro/tonne, among the lowest in Europe. Thus, for November deliveries, the FOB price negotiatied for the corn shipped from the Croatian harbours is of 121 euro/tonne, and the corn in France, considered to be of good quality, is sold at 131 134 euro/tonne, pric which includes shipping, Reuters says, quoted by NewsIn.

 

In 2008, the corn production in France is estimated at 15 million tons, against 14.4 million tons in 2007, despite delays in harvest due to rains, according to the French institute Arvalis, quoted by Reuters. In Romania, the corn production was last year of 3.85 million tons and is estimated at almost 4 million tons for 2008, according to the latest data of the Agriculture ministry. France has problems, on the other hand, to export corn, due to the high price, especially compared to Ukraine which has a excess for export of 2.7 million tons corn, against 1.5 million tons in the previous agricultural year, according to estimates of the consultancy company for agriculture UkrAgroconsult.Good quality ( of the French corn) will not be sufficient to compensate the price difference against other countries a trader said. Future prices for corn bought especially to be used as fodder went down by 40% since the end of June on the Euronext platform, going under the price of wheat, as a result of the big offer of fodder and the concerns connected to the drop in meat demand, on the basis of the financial crisis.
 
Acquisitions in the intervention stock in the European Union which started in Novemer, could not bring more optimism on the market, under the conditions where the intervention stock is this year of 700,000 tons, less than half of that of last year, 1.5 million tons.

 

 

 

ACT Media