July 3, 2012

 

Ukraine's corn harvest seen to hit record high

 

 

The International Grains Council (IGC) stated that Ukraine's forthcoming corn harvest is anticipated to hit a record high.

 

The corn yield expected is 24 million tonnes a 5.3% rise. IGC expects also estimate that in 2012-13, Ukraine will supply the world market with about 14 million tonnes of corn. If achieved it will also be a record for the country. In 2010-11 Ukrainian corn exports were five million tonnes.

 

Overall, Ukraine's total crop harvest is expected to be in the region of 45-50 million tonnes in the next fiscal year. It is also predicted that for the first time ever in Ukraine, corn will account for more than 50% of the total grain crop. The official forecast for cereal harvest is set at 47.2 million tonnes, according to the Minister of Agricultrural Policy Nikolai Prisajnuk.

 

An expert on risk management in Eastern Europe from INTL FCStone Matt Ammermann reported that with the area under cultivation for corn increasing, the Black Sea region should be able to conquer a significant share of the world corn export market. According to him, Ukraine could leave Argentina in its wake on the volume of corn exported, as early as next season

 

This year the area allocated for growing forage crops increased, this is due to the construction of a corn-soy belt in the centre of the country. The total area of corn for grain was 4.579 million hectares, which is more than one million hectares compared to 2011, sorghum - 200 hectares (100 hectares more), soy - 1.32 million hectares (200 hectares more).