Ministry of Economy offers to limit corn exports but the representatives of the agricultural sector are against it

The press-service of the Ukrainian Grain Association informs that the Association does not see any preconditions for determining the maximum volume of corn exports for the 2019/2020 MY (marketing year) harvest and signing the relevant annex to the Memorandum between the Ministry of Economy and the business associations.

The Association is convinced that there are no preconditions for the shortage of corn in the domestic market, so there is no need for limiting export of this crop. Last year Ukraine gathered the record harvest of corn (35,2 million tons) and this year’s harvest can break the record of the previous year.

It is also mentioned in the report that current corn exports amounts to nearly 26 million tons and it is declining. This indicates the low interest of exporters in corn. Moreover, Ukrainian corn is almost 25-30 USD per ton more expensive than its competitors from Argentina and the United States.

That is why the Ukrainian Grain Association expects further decline in corn exports in the nearest time and sees no preconditions for a deficit in the domestic market.


Reference source: Economichna Pravda


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