Main points
- Prices for feed corn at Ukrainian ports have increased by $3–5 per ton due to high demand and limited supply.
- Turkey has set an import quota of 3 million tons of corn with a reduced duty of 5%, which stimulates purchases and raises prices.
What are the prices for corn / Photo Unsplash
Ukrainian ports are recording a new wave of price increases for feed corn. The market is supported by active demand and limited supply from farmers.
Demand and quotas push prices up
This week, the upward trend in purchase prices for feed corn continues in Ukrainian ports, APK-Inform reports. The main driver is consistently high demand, in particular from Turkey.
The key role is played by the Turkish side's decision to establish a quota for the import of 3 million tons of corn with a reduced duty of 5 percent. This stimulates active purchases and creates additional pressure on the market towards an increase in prices.
At the same time, Ukrainian agricultural producers are in no hurry to sell. They are limiting supply, counting on a further increase in the cost of grain, which will further heat up the market.
What are the prices now and what to expect next?
As of April 22, purchase prices for feed corn in the ports of Greater Odessa and Danube increased by 3–5 US dollars per ton compared to the end of last week.
In the ports of Greater Odessa, demand prices are mainly formed at the level of 216–224 USD per ton (CPT port delivery terms), while in the Danube ports – within 215–221 USD per ton.
An additional supporting factor is the positive situation on foreign markets. If the global trend continues, prices for Ukrainian corn may continue to rise, especially in conditions of restrained supply.
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