Ukrainian corn exports to almost halve in 2024/25 MY

Published 2024년 9월 19일

Tridge summary

Ukraine is experiencing a significant decrease in corn exports for the 2023/24 marketing year, with stocks now at only 600 thousand tons, down from about 30 million tons the previous season. Despite this, global demand for Ukrainian corn, particularly in Europe, remains high with Spain and Portugal showing a strong preference. However, US exporters are offering corn at a lower price, which is influencing importers' decisions and potentially cutting into Ukrainian export markets for the latter half of the season.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In 2023/24 MY, Ukraine exported about 30 million tons of corn, but this season significantly smaller volumes are expected due to reduced stocks - as of September 1, they amounted to only 600 thousand tons. This was stated during a weekly briefing by analysts of the agricultural cooperative PUSK, created within the framework of the All-Ukrainian Agrarian Council, the press service of the VAR reports. At the same time, they emphasized that global markets are currently demonstrating high demand for Ukrainian corn, especially in Europe. "Spain is literally absorbing Ukrainian corn: by the end of last week, the price rose to $ 222-224 per ton, while at the beginning of the week it started at $ 215. Portugal has also joined the purchases," the analysts add. However, Ukrainian corn is facing competition from the United States. ...

Source: Zol