Market News & Headlines >> Ukraine Sets Corn Export Limit
Ukraine's ministry of economy and agricultural unions on Monday agreed to limit that country’s corn exports for the 2020/21 marketing year to 24.0 million metric tons.
Domestic livestock and poultry producers' associations had earlier asked the government to limit corn exports to 22.0 million tons in order to ensure sufficient domestic supplies of animal feed and keep feed prices in check.
Ukrainian grain traders last week told Reuters News Service that they saw no grounds to restrict corn exports. The traders union UGA noted Ukraine had already passed the peak of its corn export season and the rate of shipments would decline.
“The Ministry of Economy believes that there are no problems with exporting corn to foreign markets or a probable shortage of this crop in the domestic market," Economy Minister Ihor Petrashko said, according to a report Russia’s Interfax news agency. The ministry on Monday revised its estimate of Ukraine’s 2020 corn production upward to 30.3 million tons from a previous forecast of 29.3 million tons.
The Interfax report indicates that, if necessary, the parties agreed to revise the approved maximum amount of corn allowed for export, after the publication of official statistics on 2020 crop production. The export cap of 24 million tons matches USDA's current forecast for the country's 2020-21 exports.