Corn Exporters from Ukraine in 1H 2020
For many years, corn remains one of the principal export positions for Ukrainian agriproducers. Thus, Ukraine has been exporting record volumes for two consecutive seasons. According to the latest USDA report, in the 2019/20 season, Ukraine shipped 32 mln t of corn and 30.321 mln t in 2018/19. For comparison: in 2016/17, exports made up 21.334 mln t, and in 2009/10 only 5.3 mln t.
In the new season 2020/21, according to USDA, new harvest and export records of 39 and 33 mln t, respectively, are expected. Although, grain storages will demonstrate the aftereffects of heat waves and lack of precipitation for the crops.
According to Louis Dreyfus Company Ukraine, over 17.9 mln t of corn were shipped in January-June 2020. The share of TOP 15 companies accounts for more than 87% of this crop export. Moreover, the composition of the TOP 10 exporters remains unchanged: there are only position changes by separate companies. The top three positions were traditionally occupied by Kernel-Trade, a subsidiary of Kernel, Cofco Agri Ukraine and NIBULON, holding a 36% share. And, for example, such companies as Louis Dreyfus and ADM have left the TOP 3 in the last two seasons and now hold 6th and 8th positions, respectively.
Related: Corn Market in 2019
The key export directions slightly changed in the first half of 2020: most of the corn was shipped not to European countries but to Asia (more than 7 mln t). The EU countries ranked second with 6 mln t of purchases, Africa third with about 2 mln t.
The major corn importing countries in 1H 2020:
- China: 4.04 mln t, 22.5% of the total supply
- Iran: 2.17 mln t, 12.1%
- Netherlands: 1.9 mln t, 11%
- Egypt: 1.8 mln t, 10.4%
- Spain: 1.7 mln t, 9.5%
Julia Lysenko, Latifundist.com analyst