Bloomberg News

Ukraine Corn Exports to Increase in October, UkrAgroConsult Says

October 25, 2011

Oct. 25 (Bloomberg) -- Ukraine’s corn shipments are expected to rise in October after authorities removed the crop’s export duty, researcher UkrAgroConsult said.

“Corn shipments are expected to rise considerably in October,” Kiev-based UkrAgroConsult said in an e-mailed note late yesterday. More than 650,000 metric tons of Ukrainian corn was ready to be shipped as of Oct. 19, the researcher said, citing traders. That compares with 60,000 tons exported in September.

The country removed a 12 percent export duty, at the end of last week, in order to boost shipping for an expected record harvest.

Ukraine will almost double its corn harvest this year to a record 20 million tons, Mykola Prysyazhnyuk, agriculture minister, said in an Oct. 19 interview. Last year, 11.9 million tons were harvested, according to the state statistics office.

The Eastern European country harvested 12.4 million tons of corn as of yesterday, from 61 percent of the planted area, or 2.18 million hectares (5.39 million acres).

--Editors: Sharon Lindores, John Deane

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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