Ukraine diversified end markets for its corn in MY 2017/18

29.05.2018

In general, the pace of corn exports from Ukraine in the current marketing year is one of the slowest in a few seasons, report UkrAgroConsult’s analysts. Export shipments during the first eight months of MY 2017/18 (September-April) were down 14.5% from the same period a year ago.

Ukrainian exporters shipped abroad 2.3 MMT of corn in April 2018, i.e. 6.3% less than in the previous month but 17.3% more than in April 2017.

The slowdown in exports entailed a drop in supplies to key importers of Ukrainian corn. In the reporting period, shipments to the EU decreased 2% against a year ago. At the same time, exports to Egypt fell to a greater degree: down 24% year-on-year.

As Brazilian and Argentine exporters intensified their activity in the Asian market, Ukrainian corn shipments to major destinations such as Iran and South Korea decreased almost to zero. In September-April 2017/18, supplies to Iran plummeted to 380.4 KMT against 2 MMT at the same time last season, while corn exports to South Korea were minimum at 0.3 KMT versus 641.2 KMT a year ago.

In addition, this marketing year, no corn was shipped from Ukraine to big importers such as South Africa, Japan, Vietnam. At the same time, Ukrainian exporters boosted corn supplies to major consumers such as China, Turkey, and Israel. China imported 2 MMT of corn during the first eight months of the current season that review, is six times as much as in September-April 2016/17. In the period under review, corn exports to Turkey skyrocketed more than 21 times: from 43 KMT in MY 2016/17 to 906.4 KMT this season.

Information on price behavior, tendencies and forecasts on grain market in the countries of Black Sea region is available to subscribers of "Black Sea Grain" by UkrAgroConsult.

 

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