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Ukraine export corn prices fall as conflict blocks ports - APK-Inform

(Reuters) - Export prices for Ukrainian corn have fallen due to large stocks and limited demand for the grain, which due to Russia’s invasion can only be exported by rail across Ukraine’s western border, analyst APK-Inform said on Saturday.

One of the world’s leading grains suppliers, Ukraine used to ship most of its agricultural goods via Black Sea ports, but with war raging along much of the coast, traders have been scrambling to transport more grain by rail.

“Large surpluses of corn and the prevalence of supply over demand continued to put pressure on prices,” the consultancy said in a report.

APK-Inform said demand corn prices with April-May delivery stood at $240-$250 per tonne DAP on the Polish border, down by as much as $15 a tonne from a week earlier.

Demand prices for corn on the border with Slovakia also fell to $245-$260 per tonne, while the price for delivery to the Romanian port of Constanta stood at $300-$315 per tonne. APK-Inform did not provide comparative figures.

Ukrainian officials have said the country’s corn stocks totalled about 13 million tonnes at the end of March, with only 300,000 tonnes of the grain exported during the month.

Russia calls its actions in Ukraine a “special military operation” to demilitarise the country. Western countries call it an unprovoked war of aggression.

Reporting by Pavel Polityuk; Editing by Helen Popper

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