“This season, the export potential of Ukrainian corn decreased due to reduced stocks. According to the analytical department of the PUSK agricultural cooperative, the demand for the new crop of Ukrainian corn is growing, but the export volumes are expected to be significantly lower compared to last year. Last marketing year, Ukraine exported about 30 million tons of corn. However, this season, stocks on September 1 amounted to only 600,000.”, — write on: ua.news
This season, the export potential of Ukrainian corn decreased due to reduced stocks. According to the analytical department of the PUSK agricultural cooperative, the demand for the new crop of Ukrainian corn is growing, but the export volumes are expected to be significantly lower compared to last year.
Last marketing year, Ukraine exported about 30 million tons of corn. However, this season, stocks as of September 1 amounted to only 600,000 tons, which will lead to a decrease in export volumes. It is predicted that the corn harvest will amount to 21-22 million tons, of which about 5 million tons will be used in the domestic market. The export potential is estimated at 15-17 million tons, which is almost half as much as in 2023.
Demand for Ukrainian corn remains high on global markets, particularly in Europe. For example, Spain bought corn at 222-224 dollars per ton, while at the beginning of the week the price was 215 dollars. Portugal also started buying corn from Ukraine.
However, Ukrainian corn faces competition from the United States, where grain prices are lower by $2-3 per ton. This could force importers such as Spain to switch to US corn in November and December.
External factors, such as the drought in Argentina, also affect the global market. Despite these local fluctuations, further growth in corn prices is expected in the second half of the season. By the end of the year, the price may reach $200-205 per ton, and in the spring – even $220-230.
We previously wrote that Ukraine plans to start exporting biomethane to Europe in November 2024. This will be possible after the accumulation of sufficient stocks in warehouses and training of personnel.
We will also remind that Russian oil exports fell to the lowest level in three years in August due to a decrease in demand from China.
All insider information and current information on our Telegram channel, as well as bonuses and breaking news.
!function(){var t=new Date;try{t=new Date(t.toLocaleString(“en-US”,{timeZone:”Europe/Kiev”}))}catch(e){}var r,n ,a=[t.getFullYear().toString(),(“0″+(t.getMonth()+1).toString()).substr(-2),(“0″+t.getDate().toString()).substr(-2)].join(“”),o=(n=(r=document.getElementsByClassName(“r24686″)).length)?r[n-1]:null,s=function(){var t,e,r=””,n=”abcdefghiklmnopqrstuvwxyz”,a=Math.floor(2*Math.random()+4);for(t=0;t