Turkey imported 1 MMT of Russian corn

03.05.2018

Russian exporters shipped abroad 2.7 MMT of corn in MY 2017/18 (September-February), i.e. 16% less than at the same time in MY 2016/17 (3.3 MMT), reports UkrAgroConsult. February exports reached 528.6 KMT that is up 31% from January (405 KMT) and up 23% from February 2017 (430.3 KMT).

The number of countries importing Russian corn dropped from 36 in MY 2016/17 to 27 in the current season. In particular, no more corn was supplied to a number of EU nations, including previously significant buyers such as the Netherlands, Greece, and Spain. Another major market – Bangladesh – also imported no Russian corn this season.

Turkey remains the top importer this season, absorbing 38% of total corn exports from Russia. Supplies to this country approximated 1 MMT in September-February 2017/18 that is already 18% more than for the whole of MY 2016/17 (885.3 KMT). Like last season, the second place is held by South Korea (21% of total exports). Iran stepped down to third place this season – its corn imports fell to 533.64 KMT (19% of the total volume).

As a reminder, Ukrainian corn exports to Turkish market also grew significantly, despite the total corn exports are estimated about 19% less during in the first seven months of the season against the same period of last year. According to UkrAgroConsult, the European Union with a 47% share in total exports remains the top buyer of Ukrainian corn.

Detailed analysis of grain market developments in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Grain" by UkrAgroConsult.

 

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