Turkey may introduce an additional quota for the import of corn

Such a decision will potentially contribute to the growth of demand for Ukrainian corn.

Turkey may introduce an additional quota for corn imports of 1 million tons, which will probably come into force after the New Year. This was stated by ASAP Agri trade advisor and Atria Brokers broker Salih Karagoz.

“This step can stimulate the demand for Ukrainian corn. However, grain prices on the Konya Stock Exchange are falling. They may continue to fall due to pressure from imported corn, which may limit the demand for imported corn,” the expert noted.

At the same time, the situation will largely depend on feed wheat prices, which will be set by the Turkish Grain Board (TMO). Demand for imported corn may remain limited if the price of feed wheat in Turkey’s domestic market is more competitive.

For its part, Ukraine continues to focus on the main export markets for corn, including: the European Union (with a target of over 11 million tons), Egypt (over 2.5 million tons), Turkey (over 2 million tons) and Asian countries (over 1 million tons).

Also, the day before, USM wrote that Ukraine wants to increase the supply of agricultural products within the framework of Grain from Ukraine.