Ukrainian corn exports to China may fall to 3 million tons

Due to the decline in demand from China, Ukrainian traders are actively looking for new sales markets, expanding supplies to other countries in Asia and the Middle East.

Corn exports from Ukraine to China in the current season are forecast to drop to 3 million tons compared to 5 million tons in the 2023/24 MY. This was reported by analyst Kateryna Mudriyan, ASAP Agri writes.

Demand for Ukrainian corn from China remains weak, but traders expect a possible recovery of activity after the Chinese New Year. If domestic stocks in the PRC decrease and unofficial import restrictions are lifted, China may return to the global corn market.

According to Mudriyan, in this case, Brazil will benefit the most, especially if trade tensions between the US and China intensify. Brazilian corn exports to China are forecast to reach 11 million tons in the 2024/25 marketing year, up from 10 million tons in the previous year.

Analysts also note that US corn shipments to China could fall to 2 million tons in the 2024/25 marketing year, down from 3 million tons in the previous season. While China is an important market for the US, it is not the main buyer of US corn.

USM recently reported that Ukraine is opening up new markets for agricultural exports.