Europe needs Ukrainian corn

23.08.2017

According to estimates made by the European Commission, EU countries reduced corn plantings for the 2017 harvest by 1.4% to 8460 Th ha. This trend has already been observed for a few consecutive seasons not only due to yield-raising improvement of growing practices, but also owing to the weather factor.

The key European producing countries have been facing dry, hot weather conditions over the last several seasons. The consequent crop shortfall lowers corn production margins. Feed producers in the EU are seeking to replace corn with other feed components and make up for the corn shortage by the means of imports, first of all from Ukraine.

The EU’s need for Ukrainian corn is confirmed by an intention to expand the duty-free import quotas for this commodity by 625 KMT. This matter is scheduled to be considered in late September. In case of a positive decision this will minimize the impact of the import duty that has come into force.

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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