In view of a record harvest, Ukrainian corn exports increase at a significant pace, reports UkrAgroConsult. Ukraine exported 11.4 MMT of corn in September-January 2018/19 that is up 74.5% year-on-year and up 35.7% from the five-year average for this time.
In February, corn exports still accelerate and may exceed their January volume.
The European Union absorbed more than 69% of total corn exports during the first five months this season. Shipments to this market jumped by 144%.
China, the second biggest consumer of Ukrainian corn, stepped up purchases by 31% in September-January 2018/19, to 1 MMT against 814 KMT in September-January 2017/18.
In addition, Ukraine boosted corn exports to major markets such Egypt (+43%) and Libya (+36%). At the same time, a rise was seen in supplies to Lebanon, which imported 148.6 KMT against 31.1 KMT in September-January 2017/18.
It is worth pointing out that, after a pause in MY 2017/18, India has resumed purchases of Ukrainian corn. So, almost 65 KMT of corn was exported to this country in January 2019. As a reminder, India permitted zero-duty import of 1 MMT of corn this season. Market participants expect that the lion’s share of this volume will come from Ukraine.
Turkey is one of the markets that have reduced corn imports from Ukraine this season. In the period under review, shipments to Turkish buyers were down 65% year-on-year.
