April 16, 2019
EU corn imports from Ukraine jump 93.8% on year
EU corn imports from Ukraine between the start of the marketing year on July 1 and April 14 have increased 93.8% on year at 12.03 million tonnes, data from the EU Crops Market Observatory showed on April 15.
In total, the EU brought in 19.31 million tonnes of corn, a 46.15% increase on the year. Several feed end-users have to depend on corn imports to make up for a supply shortage due to a protracted drought during the European summer months.
Ukraine is still the EU's key corn trading partner, a position further reinforced by the fact that there has been little change in other top five trading partners' corn exports to the EU over the last few weeks.
The EU is forecasting a total of 21 million tonnes of imports by the end of the marketing year, according to its latest EU Crops Market balance sheet while market participants expect a total of at least 22 million tonnes, a rise of five million tonnes on the year. The latest USDA WASDE report specified 22.5 million tonnes.
The EU expects 15.5 million tonnes of corn imports in the 2019-20 marketing year.
- S&P Global Platts