MOSCOW: Export potential of Russian corn is almost done. High pace of corn exports in 2015/16 led to lack of stocks several months before the new marketing year. According to UkrAgroConsult, in July Russian exporters shipped only 21 KMT of corn to foreign markets against 152 KMT in July 2015. Since the beginning of the current season to July Russia exported 4231 KMT, which is 49% higher than during the same period of 2014/15 – 2846 KMT.
EU was the key export market for Russian corn in 2015/16. South Korea increased purchases by 25% to 928 KMT. Lebanon took the fourth place among the main importers, buying 322 KMT against 60 KMT in 2014/15 MY. Decrease in imports was seen from the side of Turkey and Iran at the background of lower imported corn necessity. In case of Turkey – due to the higher own production, and in case of Iran – due to the higher opening stocks.
