Queues build up at Ukrainian ports amid active corn exports

Overloading of grain terminals is being recorded in Ukrainian seaports, which creates risks of disruption of contract deadlines. This is reported by analysts of the company Spike Brokers.

Over the past week, the accumulation of corn in the ports has significantly increased. Due to the large flow of cargo, the logistics system is working at the limit of its capabilities. As a result, vehicle queues appear, and the speed of grain unloading is decreasing.

Since the beginning of April, Ukraine has already exported more than 816 thousand tons of corn. The main buyers have become Turkey and Italy, as well as a number of other European and Mediterranean countries, in particular Spain, the Netherlands, Tunisia and Belgium.

At the same time, the surplus of grain in the ports and the difficulties with its shipment are putting pressure on prices. Over the past week, export quotes for corn have decreased by about $2 per ton. Despite this, stable demand from European importers is partially restraining the decline in prices. Experts note that the further pace of exports will largely depend on how quickly logistical bottlenecks in ports can be eliminated.

Stable demand from European buyers helps keep prices from falling, but the speed of overcoming bottlenecks in port logistics will be decisive,” the analysts noted.

Tags: Ukraine, corn, export