Based on the results of MY 2016/17, Ukraine will improve its corn production. So, the acreage under the crop will amount 4.3 million ha (+ 4%). The volume of production, according to the updated report of USDA (Grains: World Markets and Trade) will amount 28.0 MMT, exceeding the result of the previous season by 4.7 MMT (+20%).
A larger harvest will help to boost foreign trade in corn – it is expected that in MY 2016/17 the volume of export of such product from Ukraine will amount 18.7 MMT, exceeding the result of the previous season by 12%. Domestic consumption will also increase but not so much – by 5% to 8.4 MMT.
Such a significant increase in gross harvest is expected primarily due to the continued increase in yields. It is worth emphasizing that in MY 2016/17 this indicator is expected at the level of 6.6 t/ha, which exceeds the world average by 13%. For comparison, in China the average corn yield in MY 2016/17 is expected to be at 6.0 t/ha; in Russia – 5.5 t/ha; in Argentina – 8.2 t/ha.
Corn: balance of supply and demand in Ukraine and in the world, MMT |
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Ukraine |
World, total |
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2015/16 |
2016/17 |
2015/16 |
2016/17 |
|
Sown area, mln. ha |
4,1 |
4,3 |
177,7 |
181,9 |
Yield, t/ha |
5,7 |
6,6 |
5,4 |
5,8 |
Production |
23,3 |
28,0 |
961,9 |
1049,2 |
Export |
16,6 |
18,7 |
144,9 |
144,5 |
Total consumption |
8,0 |
8,4 |
960,7 |
1039,4 |
Incl. feed |
6,7 |
7,0 |
598,9 |
630,2 |
Transition stocks |
0,6 |
1,5 |
210,9 |
220,7 |