Ukraine 2020/21 grain ending stocks to jump 17pc on high corn reserves
- Corn stocks are likely to rise 51% to 2.4 million tonnes, with high reserves putting pressure on domestic grain prices in the medium term, APK-Inform said in a report.
- The grain stocks will also include 1.5 million tonnes of wheat and 1 million tonnes of barley.
KYIV: Ukraine's grain ending stocks for the 2020/21 July-June season will be up 17% year on year owing to a sharp increase in corn reserves, analysts at APK-Inform consultancy said on Thursday.
Corn stocks are likely to rise 51% to 2.4 million tonnes, with high reserves putting pressure on domestic grain prices in the medium term, APK-Inform said in a report.
The grain stocks will also include 1.5 million tonnes of wheat and 1 million tonnes of barley.
The consultancy attributed the envisaged increase in corn stocks to a decrease in importer interest in Ukrainian corn because of high prices and lower sales of corn by agricultural producers.
Export prices for Ukrainian corn are up to 5% higher than the cost of top-quality soft milling wheat, APK-Inform said.
Ukraine harvested 30 million tonnes of corn in 2020 and the government does not expect exports to exceed 24 million tonnes in the 2020/21 season.
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