Ukraine limits corn exports for 2020-21 at 24 million mt

New Delhi — The agriculture ministry of Ukraine has decided to limit corn exports from the country in the 2020-21 marketing year (July-June) at 24 million mt, it said in a Jan. 25 release.

Various agricultural and feed associations in Ukraine had asked the government to limit corn exports from the country at 22 million in 2020-21 season mt, citing domestic needs.

The approved quantity for maximum corn allowed for export in 2020 can be revised if needed, following the publication of official crop production statistics in Ukraine, the release added.

Ukraine's corn production in 2020-21 is likely to fall almost 18% on the year on unfavorable weather conditions. Ukraine is likely to produce 29.5 million of corn in 2020-21 and export 24 million mt from that, according to the US Department of Agriculture.

In 2019-20, Ukraine had produced 35.89 million mt of corn and exported 28.9 million mt, according to the USDA.

Ukraine's agriculture ministry had quoted the country's domestic corn requirement at 7.5 million mt earlier, but the ministry has estimated Ukraine's corn production in 2020-21 at 30.3 million mt.

"The Ministry of Economy (Ministry of Economic Development, Trade, and Agriculture of Ukraine) believes that there are no problems with the export of corn to foreign markets or a possible shortage of this crop in the domestic market," the release said quoting Minister of Trade and Agriculture of Ukraine Igor Petrashko.

"To further ensure the predictability and sustainability of the grain market, the Ministry of Economy supports the proposal of agricultural associations to include the position of corn in the memorandum with a definition of export limits at 24 million mt," it added.

Ukraine is one of the largest corn producer and exporter globally and largely caters to the European Union markets.