THE STUDY OF THE WORLD CORN MARKET CONJUNCTURE AND DETERMINATION OF UKRAINE’S PLACE IN IT

Keywords: world corn market, market conjuncture, export, import, demand, supply

Abstract

The article examines the state, dynamics and trends of the world corn market and the opportunities for the presence of Ukrainian producers in it. The volumes of corn production in the world and in Ukraine were analyzed and it was found that corn supplanted wheat in the first place and became the leader of the grain balance of the planet. It is determined that the main producers of corn in the world are the United States, China and Brazil. At the same time, the United States is also a major exporter of corn, and China, which is one of the top three producers, does not export it at all, but is also a major importer. The main importers are the EU, Mexico, Japan, Vietnam and South Korea. It was found that in Ukraine, due to high competition in foreign markets, wheat and barley became less profitable crops, which contributed to the reduction of sown areas and their production. Instead, the main grain crop was corn, the production of which has increased several times over 30 years. Ukraine is one of the key US competitors in the Chinese market and one of the main suppliers of corn to the EU. Although Ukraine's share in world corn production fluctuates at 2-3%, it ranks fourth in world corn exports, supplying almost 80% of grown corn to the world market. The forecast of corn production in the world and Ukraine in the 2021/2022 marketing year developed by the authors on the basis of available statistical data gives grounds to assert that world production will remain at the level of the previous year, while the expected volume of production in Ukraine will decrease. It is shown that the growth of world corn prices in the 2020/2021 marketing year and expectations for their further increase this year, global grain consumption, losses due to the global economic downturn create preconditions for Ukraine to become a powerful global player in the food market. Further research is aimed at the current monitoring of the world corn market to determine the prospects of domestic exporters.

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Published
2022-04-15