August 19, 2011

Ukraine's record corn yield to exceed grain elevators' capacity

The grain elevators of Ukraine may not cope with the receipt of additional 17 million tonnes of corn if they are not cleared of early grain crops.

Given the rainy season, corn will need to be dried, and the clearing of early grain crops could be quite likely taking into account the slow pace of exports from the country.

This problem was outlined by Director General of the Ukrainian Agrarian Confederation Serhiy Stoyanov, UKRINFORM reported.

"According to estimates by experts, in order to ensure that 17 million tonnes of corn are dried, grain elevators will need to operate continuously for three months," he said.

In addition, there could be a lack of storage facilities to receive late grain crops because of the slow pace of exports, Stoyanov said.

The expert recalled that the USDA had lowered the corn harvest forecast in the United States by 4.5 million tonnes. "This means that the price of corn in the world will be high. And we have a lot of corn. We should not miss a chance to make money for Ukrainian farmers," he said.

As reported, Ukrainian farmers will harvest a record harvest of corn this year, which, according to forecasts by the Ukrainian Agricultural Policy and Food Ministry, will amount to 17 million tonnes, 70% more than last year (10 million tonnes).