In 2019/20 MY, Ukraine harvested the record volumes of corn. According to the State Statistics Service, the production totaled nearly 35.9 mln tonnes, an increase of 0.2% compared with the season-2018/19. At the same time, APK-Inform analysts estimated the export potential in the current MY at 28.5 mln tonnes.
According to APK-Inform figures, in the period of October-March of 2019/20 MY Ukraine supplied nearly 21.1 mln tonnes of the grain on foreign markets, up 13% compared with the same period last season.
For 6 months of the season, Egypt became one of the main importers of Ukrainian corn, and purchased 2.8 mln tonnes of the grain, as well as Spain — 2.8 mln tonnes, China — 2.7 mln tonnes, the Netherlands — 2.1 mln tonnes, and South Korea — 1.7 mln tonnes, which jointly covered nearly 58% of the general exported volumes.
At the same time, Egypt increased the imports of the Ukrainian grain by 50% compared with October-March of 2018/19 MY, China — up 19%, and South Korea — up 5.3 times. As for Spain and the Netherlands, the reporting countries even reduced the purchases of the Ukrainian grain compared with the same period last season — down 14% and 19%, respectively.
According to the USDA figures, in 2019/20 MY Ukraine took the sixth position in the global production rating of corn, and the fourth position — in the export rating. To date, Ukraine already realized the export potential of corn by 74%. At the same time, the key countries-importers do not plan to significantly reduce their purchases, which allows expecting for complete realization of the forecasted export potential.