Russian corn entered Japan’s market

06.12.2016

As UkrAgroConsult reported earlier, the new corn season in Russia started with a record fast pace of exports. In October 2016, Russia again exported the largest amount of corn for this month – 539.4 KMT. This is 53% higher than in October 2015.

In the first two months of 2016/17, Russia boosted corn shipments by 42% to 946.1 KMT.

The European Union remains the key destination market for Russian corn. A substantial increase is seen in Russian corn deliveries to Iran. The country imported 207.2 KMT of corn from Russia in the first two months of the season – this already exceeds total purchases during last season (193.7 KMT). South Korea and Turkey also stay among major importers.

Noteworthy is also a surge in Russian corn exports to Japan, reports UkrAgroConsult. Russia supplied 59.7 KMT of corn to that market in October 2016, or four and a half times more than a year ago (13 KMT was exported in MY 2015/16). This is the largest corn shipment to Japan. It should be pointed out that previously Russia exported 50 KMT of corn to the Japanese market in December 2013.

In addition, market participants say another more than 150 KMT of Russian corn was exported to Japan in November. Noteworthy, Japan is the world’s top corn importer, being supplied with this commodity mostly from the U.S. and Brazil.

Will Russia maintain leadership in the export market in future, given the current trend of port industry development? UkrAgroConsult is going to answer this question in a new market study “Russia: Record crop vs Grain-handling capacities deficit”.

 

UkrAgroConsult

 

Readers choice: TOP-5 articles of the month by UkrAgroConsult