In the first half of 2016/17 MY, Iran became the leader of Ukrainian corn purchases

In the first half of 2016/17 MY, Iran became the leader of Ukrainian corn purchases

In the first half of 2016/17 MY, Iran became the leader of Ukrainian corn purchases

The FINANCIAL -- According to APK-Inform figures, in 2016/17 MY Ukraine increased export volumes of corn towards countries of the Middle East and Asia. Such trend developed due to the increased competition rates on the global market in terms of the record high production volumes and carry-over stocks.

At the same time, in the current season Iran became a leader of Ukrainian corn purchases. In October-February of 2016/17 MY, the country imported nearly 1.7 mln tonnes of corn from Ukraine, or 17% of the general supplies in the reporting period. At the same time, during the whole last season Ukraine exported 0.67 mln tonnes of corn to Iran, and the country kept the 8th position only in the rating of major importers of the Ukrainian grain, according to APK-Inform.

It should be noted that enlargement in domestic consumption of the grain contributed to significant growing of corn import volumes to Iran. According to USDA experts, the domestic consumption increased by 26% compared with 2015/16 MY figures, and totaled 11.1 mln tonnes.