EU corn market: competition is getting strong and more to come

15.12.2016

Season 2016/17 was marked with second in a row low corn crop in top-producing EU countries – France, Romania, Italy and Spain. According to European Commission`s estimates, EU corn crop totaled 59.073 MMT in 2016/17, almost in line with last year volume  - 59.066 MMT at the expense of higher production in other top producers and in EU countries, which predominantly import corn.

EU imports are forecasted higher than last year – 14 MMT against 13.2 MMT and the potential for further increase of exports from Ukraine, and Russia, which respectively took 63% and 11% of EU corn market last season, really exists.

But it should be noted, that during the first two month of current season (September-October) export pace from these countries is slower than last year and there are several reasons for that, Olena Hesova, UkrAgroConsult’s analyst notes.

Full version of the article is available to subscribers for weekly market report “Black Sea Grain & Oil” and “Online market review” by UkrAgroConsult.

 

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