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Export prices of Ukrainian corn mainly decreasing, as traders suspend purchases in Odesa ports – APK-Inform

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APK-Inform

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Last week, the export prices of Ukrainian corn were mainly decreasing, head of local markets department at APK-Inform, Anna Tanskaya said.    

According to her, the precise were pressured by the higher corn supply moving toward the land border checkpoints and the Danube ports, as most traders suspended purchases in the ports of Great Odesa due to weak demand form importers.

“First of all, the situation was based on unclear future of the “grain corridor”, low number of new ships coming to Ukraine, and accumulation of large stocks in port area. At the same time, active corn export, slow progress of the harvesting campaign limited the price decline. Moreover, the corn production in the EU may become the lowest in 15 years in 2022/23 MY, which increases the demand for Ukrainian grain”, – she said.

A. Tanskaya added that the prices were also affected by the expensive logistics and slowed down passage of cargoes through land border checkpoints due to frequent raid alerts, electricity outrages and peculiarities of transportation in neighbor countries.

The traders’ prices of corn totaled 185-205 (sometimes 210) USD/t or 7200-8500 UAH/t CPT-port in the ports of Great Odesa and the Danube. The importers’ prices for delivery in November-December totaled 220-245, 225-250, 230-245 and 230-250 EUR/t at the borders with Poland, Hungary, Slovakia and Romania. They reached 270-300 EUR/t DAP in the cities of Hungary and 255-270 EUR/t CIF in the port of Constanta.

“It is likely that we will see further price decline and narrower price ranges this week”, – A. Tanskaya added.

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