Black Sea Region: Corn Fever

15.01.2014

corn, maize, crop, export, grain, Ukraine, Russia, Romania, UkrAgroConsult, Black Sea Region: Corn Fever

new study, agricultural, 2014

Will Ukraine become a new corn giant? Will the novice press international trade sharks in solvent markets? How Russia will use the Ukrainian corn might? Will there be a place for Romania in this powerful corn flow? Read about these and other issues in a new study from UkrAgroConsult!

Ukraine has increased corn production almost nine times in the last eleven years – from 3.1 MMT in 2002 to 27 MMT in 2013 – that put the nation on the world’s top-five list of corn producers and exporters. This considerable success was achieved mostly due to high yield and attractive prices in recent seasons. However, the 2013/14 marketing year may bring a serious challenge to the Black Sea corn market. The plummeting of prices early in the new season cut corn growing margin. In addition, competition intensifies between the countries within the region. Russia, which has been a corn importer for many years, will not only achieve self-sufficiency in 2013/14, but may even supply over 2 MMT of corn to the international market. At the same time, Russia intends to continue increasing corn plantings that will strengthen competition and pressure on prices inside the Black Sea region.

A bumper corn crop was harvested in the Black Sea region in 2013/14, mostly due to sharply increased production in Ukraine and Russia. At the moment, prerequisites are present for expanding corn planted acreage in the region in MY 2014/15. So, Black Sea corn will face a task of developing new markets and enhancing competitive advantages in solvent markets.  

UkrAgroConsult considers fundamentals and functional peculiarities of the Ukrainian, Russian, Romanian corn markets in a new study entitled “Black Sea Region Corn Fever”

 

The studies are to be released in February.

 

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