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High demand for Ukrainian corn drove prices USD 5 per ton higher
23 December 2019, 12:30
In the Black Sea region, grains and oilseeds prices surged significantly during last week. The support from Chicago’s market added to the end of year break have provoked a regain of interest from importers, Agritel writes.
In Ukraine, the 11.5% wheat increased by +3 USD/t last week to deal at 211 USD/t FOB Odesa.
The Ukrainian corn benefitted from the rise of the export taxes in Argentina and also from Chicago‘s support or a busy demand. The corn was dealing at 174 USD/t FOB Odesa by the end of last week, representing an increase of +5 USD/t within one month.
Another key product of the Black Sea, the sunflower oil recorded also an increase.
"The positive trend observed on the palm oil is bringing significant support to this product, its price jumped by +20 USD/t in a week and by +40 USD/t in a month to deal at 768 USD/t FOB Odesa," reads the report.
Since the start of 2019/20, Ukrainian seaports have shipped 28.9 mln t of staple grains for export.
As of December 20th, commodities shipment increased by 7.78 mln t from the comparative period of the previous year.
