Persian Gulf countries – growing export market for Black Sea and EU grains
Countries of Persian Gulf are catching the eye of major grain exporters as gradual depletion of water reserves and highly vulnerable productive land make these countries more dependent on imports of cereals. Thus, the largest representative of the region - Saudi Arabia is getting attractiveness for corn exporters due to lack of government subsidies for all water intensive crops. Instead, government provides financial subsidies for imported corn to poultry and dairy producers. Due to higher corn imports available, in 2017 domestic broiler production is expected to increase by 4.5% to 700 KMT (+4% in 2016).
To cover the growing domestic demand, over the last 10 seasons Saudi Arabia increased corn imports in average by 138% in 2016/17 MY, entering the list of top 10 world corn importers.
According to USDA estimates, in 2016/17 imported volume will account for 3% in the total world imports, leaving behind such major corn consumer as China, reports UkrAgroConsult.
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