At the season start, Ukrainian corn exports almost doubled

Source

APK-Inform

4413

According to the operation data by APK-Inform Agency, in the first month of the season Ukraine exported nearly 2.3 mln tonnes of corn, up 71% compared with the same month last year.

The strong demand on Ukrainian corn in October was demonstrated by Egypt, which imported nearly 530 thsd tonnes, Turkey (more than 180 thsd tonnes), China (175 thsd tones), Israel (more than 145 thsd tonnes), Libya (more than 120 thsd tonnes), Tunisia (nearly 85 thsd tonnes), and South Korea (more than 50 thsd tonnes).

Herewith, the EU countries remained the key distribution market, which imported nearly 1 mln tonnes of the Ukrainian corn.

“Apart from increase of export deliveries, there is a widening of the export markets. And the prices played an important role in this, as they settled at rather low level thus increasing the competitiveness of the Ukrainian grain on the global market”, said Anna Tanskaya, the Head of Local markets department of APK-Inform Agency.

Speaking of the prices, the expert also noted that due to the upward price tendency in the first 10 days of November and then the prices lowering in the beginning of the second 10 days of the month, the price trend is far from being stable.

“For now the key price formation factors are on one side the downward revision of the grain production in Ukraine and the USA by USDA, and on the other side – the high competition on the global market and unwillingness of the importers to purchase at the prices higher from the earlier formed”, explained the expert.
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