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Ukraine’s grain stocks in 2020/21 rise 17% due to high corn reserves

KIEV, Apr 1 (Reuters) – Ukraine’s ending grain stocks for the 2020/21 season ending in June will rise 17% from the previous season due to a sharp increase in maize stocks, the consultancy said on Thursday APK-Inform.

Corn stocks are likely to skyrocket 51% to 2.4 million tonnes and high reserves will put pressure on domestic grain prices in the medium term, APK-Inform said in a report.

Total stocks would also include 1.5 million tonnes of wheat and 1 million tonnes of barley.

The consultancy attributed the anticipated increase in corn reserves to lower importers’ interest in Ukrainian grain, due to high prices, and lower sales by producers.

Export prices for Ukrainian maize are up to 5% higher than the cost of premium-grade common mill wheat, according to APK-Inform.

Ukraine harvested 30 million tons of corn in 2020 and the government does not expect exports to exceed 24 million tons in the 2020/21 season.

(Report by Pavel Polityuk. Edited in Spanish by Javier Leira)

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