In 2018/19 MY, Ukraine demonstrated the record export rates of corn, and the EU became the key destination for corn supplies. So, In October-February of the current season Ukraine exported more than 14.6 mln tonnes of corn, including over 9.1 mln tonnes (62%) supplied to the European Union countries. In the reporting period, Spain and the Netherlands were the main importers of the Ukrainian grain, which covered 19% and 15% of the supplies, respectively.
According to the analysis of the structure of corn supplies to the reporting countries, Ukraine became the leader in terms of the grain exports, and provided the significant share of the import demand. According to the International Trade Center, in 2018 Ukraine covered 30% of the general import supplies to Spain and 51% of the imports of the Netherlands.
At the same time, Brazil formed the most worthly compete to Ukrainian corn on the key EU markets. In 2018, Brazilian corn covered 29% of the Spanish market and 11% of the Dutch market. But in 2017, Brazil exceeded Ukraine in the terms of corn supplies to Spain, and covered 32% of the country's general imports, against 29% provided by Ukraine.
Taking into account the current upward trend of corn production in Brazil (to 97.5 mln tonnes in 2019/20 MY, according to the April report with preliminary forecasts by the USDA's Global Agriculture Information Network), as well as its exports (32 mln tonnes), in the nearest future the high competitive activity will continue dominating on the Spanish market. At the same time, Iran is the key market for Brazilian corn. For several recent years, the country continued systematically increasing the imports, and therefore the supply of Brazilian corn can focus on the reporting destination, which also opens up additional prospects for Ukrainian corn.
You can become acquainted with the prospects of grain exports from the Black Sea region by visiting the XVIII international conference Grain & Maritime Days in Odessa (May 30 - June 1, 2019, Maristella Marine Residence, Odessa).
