New crop corn prices in Poland remain low due to loss of sales markets

Prices for new crop corn in Poland remain low and are not expected to increase in the near future. This was reported by Mirosław Marciniak, an agricultural market analyst at InfoGrain, Farmer.pl reports.

According to him, currently in ports, dry new crop corn can be sold for PLN 720–740 per ton (8.2–8.4 thousand UAH/t), but even at this price, exporters have problems with sales on the European market.

“One of the reasons is the loss of the British market. We have lost a major buyer of corn. Why? Because one of the largest bioethanol plants is being closed there. This is a consequence of the agreement with the United States, which is not talked about much in public. The media talks a lot about agreements with Mercosur and Ukraine, but this one with the United States is also important for agriculture. The agreement with the United States will not be beneficial for Europe at all. The abolition of tariffs on American raw materials further opens the market, in particular for bioethanol, which is already entering the EU. And this will directly reduce the demand for corn,” Marcinyak explained.

The analyst also noted that this season, European farmers have also lost the German market. The harvest in Germany is high, and local farmers immediately sell their products. Therefore, German processors use local supply, not imports, he added.

Tags: corn, UK, prices, Poland, Germany, ethanol