Moldova reduced corn exports by 30% in 2024

Published 2024년 8월 1일

Tridge summary

In the first half of 2024, Moldova experienced a significant decrease in corn exports, with a 70% drop compared to the same period in 2023, totaling 264 thsd tonnes. This decline is attributed to the severe dry weather conditions expected to reduce the late crop harvest and the depletion of stocks from high exports at the end of 2023. The price of corn has begun to rise, indicating a potential continued upward trend due to the predicted corn shortage. Romania has been the primary destination for Moldova's corn exports, accounting for 36.5% of the total, followed by Turkey and Switzerland. Additionally, Moldova has seen additional revenue from the export of corn for ethanol production, amounting to 44.7 million euros from 2021 to June 2024.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the first half of 2024, Moldova’s corn exports were significantly lower than in the same periods of previous years. According to statistics, in the first 6 months of 2024, corn exports amounted to 264 thsd tonnes, which is 70% of exports in the same period of 2023, when more than 378 thsd tonnes were exported. In each month of 2024, the volume of exports was lower than in the same months of previous years. “This trend is explained by the fact that producers predict a low harvest of late crops in 2024 due to extremely dry weather. In addition, at the end of 2023, exports were high, and the stocks of producers and traders decreased significantly,” said Yuriy Rizha, Executive Director of the Association of Exporters and Importers of Agricultural Products and Grains ‘Agrocereale’. The dynamics of price growth from February to June 2024 indicates a shortage of corn. For example, in 2023, during this period, corn prices were falling, not rising. From 2021 to 2023, in the second half ...

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