As of February 3, 2013, Ukrainian corn producers exported 7.95 million tonnes of corn – 1.4 mln tonnes more than last year in a year-on-year comparison, the Agrarian Ministry of Ukraine reported. Making Ukraine the top supplier among European countries.
In 2012, Ukraine produced about 20 million tonnes of corn, with over half going to foreign buyers, Mykola Prysyazhnyuk, Ukrainian agrarian minister, said at a recent press-conference. The main buyers of Ukrainian corn in January-November 2012 were Belgium, Egypt, Ireland, Italy, Portugal and Spain.
In 2012, Ukraine began cooperation with China, world’s largest corn consumer, regarding the supply of corn. China plans to buy approximately 3 million tonnes of Ukrainian corn per year. To help boost Ukraine’s corn production, in July 2012, China provided Ukraine’s agricultural sector with a US$3 billion loan.
The purpose of the loan is to finance the increase in trade volume, raise productivity and stimulate equipment modernisation in the agricultural sector. With the money Ukraine will be able to purchase crop-protection agents, seeds and equipment from China, as well as invest in land cultivation and set up a plant for organic fertilizer processing and crop-protection agent production.
Currently, Ukraine has a 12.9% share of the global corn market. In 2011, Ukraine took the third spot in the global corn supplier rating, being the second runner-up to the market giants- the USA and Argentina.