Ukraine restoring corn deliveries to South Korea’s market

07.04.2017

According to preliminary information, Ukrainian corn exports fell in February. The reason was ice campaign in the ports that constrained grain handling at the time. Thus, February 2017 corn shipments totaled 1812 KMT, or 23.5% less than in February 2016.

Nevertheless, this season’s exports are still up from last year. Ukraine exported 10.415 MMT of corn in the first half of MY 2016/17, or 6.7% more than in the same period last season, UkrAgroConsult notes.

Also, noteworthy is this season’s revival of Ukrainian corn deliveries to South Korea, which was one of the top five destinations for Ukraine’s corn back in the 2014/15 season. In MY 2015/16, corn deliveries from Ukraine to this market confined themselves to a Panamax cargo, because South Korea sharply increased purchases from Argentina and Brazil. In the current season, these countries are still harvesting their bumper corn crops, therefore only the U.S. are now competing with Ukraine in this market.

Thus, Ukrainian exporters already supplied about 400 KMT of corn to South Korea in the first half of MY 2016/17 against 66 KMT last season. So, South Korea has entered again the top five buyers of corn from Ukraine, though lagging far behind the other four.

 

UkrAgroConsult

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