December 19, 2005

 

Hungary, Russia to begin talks on corn exports

 

 

Hungary will start talks with Russian authorities in January on the possible export of its corn, which yielded a bumper crop again this year, a Hungarian agricultural ministry official said Friday.

 

"There's demand in Russia for corn. The question is whether we can agree on the price," Fulop Benedek, administrative state secretary at the ministry told the press.

 

With its EUR78/tonne to EUR85/tonne price for corn, Hungary offers the cheapest corn in the EU. That price rises to over EUR90/tonne with the cost of train transport to Russia.

 

"If our price expectations meet about there, there's a chance to sell a few 100,000 tonnes to Russia," Benedek added.

 

Hungary gathered a record 9 million tonnes of corn this year, deepening the storage problems it already faced because of its bumper wheat crop.

 

The Russian Grain Association's President Arkadi Zlochevsky will come to Budapest in January to negotiate the deal, Benedek added.

 

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