Ukrainian corn export is lowering due to deterioration of price competitiveness – APK-Inform

Source

APK-Inform

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According to APK-Inform, Ukraine exported nearly 26.6 mln tonnes of corn in October-May 2019/20 MY, up only 2% compared to the same period year ago (26 mln tonnes). At the same time, the shipments pace had been declining since February. Thus, the country exported 3.5 mln tonnes of corn in February, down 7% from the year ago level. March shipments decreased to 3.5 mln tonnes again (-6%), April volumes totaled 3.1 mln tonnes (-15%), while the export declined to 2.4 mln tonnes in May (-36%; 3.7 mln tonnes in May 2019). Seasonal factor as well as lower demand from importers due to deterioration of price competitiveness led to the downward trend in export of Ukrainian corn.

In May, APK-Inform analysts forecast the export potential of Ukrainian corn at 29 mln tonnes in 2019/20 MY. The potential was 92% fulfilled by results of 8 months of the season.

“We forecast the production of Ukrainian corn to decrease to 35.4 mln tonnes in 2020/21 MY, down 1.3%, while the export could be down 3.4% at 28 mln tonnes”, - the analyst of APK-Inform, Viktoriya Rozhko clarified.

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