October 11, 2012

Ukraine likely to lose traditional export markets for corn in 2012-13

Ukraine may lose the traditional export markets for corn in 2012-13 marketing year.

This was announced by Rodion Rybchinskiy, head of the business projects department of APK-Inform Agency, on September 26.

Due to the complex political situation in the Middle East and North Africa countries, in the current season Ukraine may lose these traditional markets for domestic corn exports, which share annually totaled nearly 60% of the general exports of the Ukrainian grain during recent five years, said the expert.

At the same time, there are no new major potential importers, which will be interested in purchasing of the Ukrainian grain, he added.

R.Rybchinskiy also noted that in the current season, the total supply of corn in Ukraine (including the carry-over stocks) will total nearly 23.5 million tonnes, while the domestic needs six million tonnes.

It is clear that Ukraine still need to supply significant volumes of corn on foreign markets. But there may be serious problems, he concluded.