Grain: World Markets and Trade
Foreign Agricultural Service Circular Series
Eastern Europe Fills Void Left By Hungary In Global Corn Market
After consecutive bumper crops, East European corn producers have rapidly become important regional suppliers. It also doesn’t hurt that they are close to many Mediterranean markets and therefore hold a comparative freight and shipping advantage over larger, global, market suppliers, i.e., the United States and Argentina. However, the balance of corn trade shifted when Hungary and Slovakia joined the European Union. Rather than exporting 2.2-2.5 million tons of corn annually, their farmers have found it more profitable to sell surpluses to government (intervention) storage at a guaranteed price which has been higher than market or export prices. So, without internal transportation or export subsidies, intervention corn stocks in Hungary and Slovakia have soared to over 5 million tons, while exports to non-EU markets are down to a trickle. Other EU countries have increasingly turned to Eastern Europe, covering 40 percent of imported corn needs from there last year, compared to only 8 percent before Hungary’s accession to the EU.
Complete Grain Report in PDF: Text and Tables
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World Markets and Trade: Commentary and Current Data
Wheat Commentary [Text] [Adobe Acrobat Format] Wheat Data Tables [Excel Spreadsheet Format] [Adobe Acrobat Format] Rice Commentary [Text] [Adobe Acrobat Format] Rice Data Tables [Excel Spreadsheet Format] [Adobe Acrobat Format] Coarse Grains Commentary [Text] [Adobe Acrobat Format] Coarse Grains Data Tables Excel Spreadsheet Format] [Adobe Acrobat Format]
Historical Data Tables: Selected Regions and Countries
General Footnotes for Grain Tables
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Last modified: Sunday, March 17, 2013