EU is ready to buy large volume of Ukrainian corn

19.10.2017

According to the USDA estimates, in 2016/17 MY world corn importers decreased purchases by 2% against the previous season - to 137.1 MMT, despite the record world corn production.

Still, evaluating the results of 2016/17, corn exports from Ukraine were up 26% year-on-year. Having gathered second largest corn harvest, Ukraine managed to deliver more corn to all the key destinations, except for the China, which tries to get rid of high corn stocks.  What is more, in 2016/17 Ukraine moved up to the third place on the list of top world corn exporters, leaving behind Brazil. 

In its turn, Ukrainian traders should not exclude serious competition from Brazil, which started corn export season in July 2017.

Concerning the key export market of Ukrainian corn – EU, in 2017/18 the USDA forecasts the corn harvest to go down by 2.8% from last year to 59.39 MMT. 

Imports are forecast to be second largest - at 16 MMT and almost in line with record of 2013/14 (16.014 MMT). Considering the growing share of Ukrainian corn in EU imports (in 2016/17 – 68%), Ukraine can count on increase in corn exports to EU in 2017/18 MY as well, reports UkrAgroConsult.

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

 

UkrAgroConsult

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