March 21, 2013

Ukraine's corn exports may exceed 14 million tonnes in current season

In the current season, the Ministry of Agrarian Policy and Food of Ukraine increased its estimation of the potential exports of domestic corn to 14 million tonnes.

According to Nikolai Prysyazhnyuk, Minister of Agrarian Policy, on March 19, to date the situation on the domestic market of grains in Ukraine is rather stable. Therefore, taking into account the level of world prices and sufficient domestic stocks of grains, it is necessary to maximally unload the domestic grain market. In particular, the Ministry plans to increase the export supplies of grains, primarily corn. Thus, in the current marketing year the supply of the crop on foreign markets may reach 14 million tonnes, said the Minister.

Since the beginning of the season Ukraine already exported over 10 million tonnes of corn, and by the end of the current marketing year the country plans to supply another 4.7 million tonnes of the grain on foreign markets.

The Minister informed that as of March 19, Ukraine already exported 19 million tonnes of grains, including 6.2 million tonnes of wheat, over two million tonnes of barley and 10.1 million tonnes of corn.

Generally, by the end of the marketing year Ukraine can still export additional 6.6 million tonnes of grains, said N.Prysyazhnyuk.