Ukraine increases corn exports to China

Due to the relative stabilization of deepwater ports, Ukraine has increased its corn exports to China. This was discussed on November 28 during a weekly briefing organized by the analytical center of the agricultural cooperative PUSK, created within the framework of the CAP.

According to analysts, as of November 27, Ukraine has exported 2.4 million tons of corn out of the contracted 2.5 million tons since the beginning of the month. For December, 2.2 million tons have already been contracted. By the beginning of March, the main supply of corn on the global market will come from Ukraine and the United States.

“The deep-water ports are starting to work and Ukraine is more actively selling corn to China, where its price with delivery at $250 per ton is competitive. Last week, China purchased about 100-120 thsd tonnes of Ukrainian corn, and the week before that – 100-150 thsd tonnes. That is, one or two panamaxes are shipped to China every week, where buyers are satisfied with the price-quality ratio of the Ukrainian grain,” PUSK notes. It can be expected that amid the stable demand from China, the price growth for Ukrainian corn will continue.

“At present, the supply of corn on the CPT market is insignificant, prices fluctuate greatly depending on the size of the batch and are in the range of $144-153, the price tag can reach $165 per ton,” summarizes PUSK.

Tags: Ukraine, China, corn