Export destinations for Ukrainian corn in MY 2021/22: what is to be expected?
UkrAgroConsult
Article author:
MY 2020/21 turned out to be not the most productive for Ukrainian corn due to drought. The crop decline caused a drop in exports. The range of export destinations for Ukrainian corn also changed in MY 2020/21.
China became the top importer in MY 2020/21, with a 36% share. This country pressured traditional destinations such as the EU, Egypt, South Korea, Turkey, the UK and drove out some Southeast Asian importers.
MY 2021/22 will likely witness a revival in demand from the EU, which received less than desired from Brazil in MY 2020/21 due to record high prices and reduced supply.
From October to March, Ukraine will compete with the U.S. for demand from the main buyer, i.e. China. In its latest report, the USDA raised the outlook for China’s corn crop and lowered estimates for some corn uses. It is also worth reminding that the Chinese authorities have spoken out in favor of reducing import dependence and planned to partially replace corn with other grains and meals.
Therefore, the real outlook for Chinese demand remains an enigma for the entire agricultural market.
UkrAgroConsult’s analysts expect the range of export destinations for Ukrainian corn can be predicted to near its 2019/20 pattern.
Full version of the article is available to subscribers for Online Analytics “Black Sea Grain” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!!
Start using analytical data and increase your efficiency now!
Register to get your demo access: http://agrisupp.com/en/register/1
Read also
Argentina’s soybean harvest is forecast to be higher than last year, but the...
Wheat prices in Ukraine have stabilized following global quotations
Vietnam’s feed wheat imports rise due to low prices
Egypt purchased 290 kmt of Ukrainian, Bulgarian and Romanian milling wheat
Grain prices in Bulgaria have “calmed down”
Write to us
Our manager will contact you soon