Corn production in the world will decrease due to unprofitability

Farmers will give up growing corn because it takes a lot of gas to dry it. This was reported by experts during the international  Agro&Food Security Forum: Grains, Oilseeds, Pulses held in Warsaw.

“$50/ton is just the cost to dry the corn. We will reduce the production of corn because it will be completely unprofitable,” said Tetyana Alaverdova, commercial director of HarvEast, about the challenges of the season.

Yulia Garkavenko, an oil crop market expert and UkrAgroConsult analyst, shares her opinion.

“It’s really a trend that we’ve seen in our research — farmers will move away from growing corn. And not only in Ukraine. Corn will be abandoned in Europe as well. And our main competitors for sunflowers — Romania and Bulgaria — they too will grow more sunflowers — it’s husks that can be burned and replaced with gas. And corn needs a lot of gas,” Yulia Garkavenko explained.

It will be recalled that USDA experts forecast world production of corn for 2022/23 at the level of 1.172 million tons, which is 7 million tons less than it was forecast a month earlier. For Ukraine, experts have increased the forecast of the harvest to 31.5 million tons, which is more than 1.5 million tons more than was forecast in August.

Tags: Yulia Garkavenko, Ukraine, Bulgaria, corn, sunflower, UkrAgroConsult, Romania, Agro&Food Security Forum