Moldova reduced corn exports by 30% in 2024

In the first half of 2024, Moldova’s corn exports were significantly lower than in the same periods of previous years. According to statistics, in the first 6 months of 2024, corn exports amounted to 264 thsd tonnes, which is 70% of exports in the same period of 2023, when more than 378 thsd tonnes were exported. In each month of 2024, the volume of exports was lower than in the same months of previous years.

“This trend is explained by the fact that producers predict a low harvest of late crops in 2024 due to extremely dry weather. In addition, at the end of 2023, exports were high, and the stocks of producers and traders decreased significantly,” said Yuriy Rizha, Executive Director of the Association of Exporters and Importers of Agricultural Products and Grains ‘Agrocereale’.

The dynamics of price growth from February to June 2024 indicates a shortage of corn. For example, in 2023, during this period, corn prices were falling, not rising. From 2021 to 2023, in the second half of the year, corn prices either stabilized or declined.

In 2024, it can be assumed that the upward trend in corn prices will continue, as it has already begun in the first half of the year, showing a sharp jump from April to June. In terms of the agricultural year, the current season is almost equivalent to the previous one, as the 2023 harvest has been reached.

Romania was a priority export destination in the first half of 2024, as this country is currently the best transportation hub for Moldovan grain exports to Europe. The share of corn exports to Romania is 36.5% of total exports, which in absolute terms is equivalent to 96.5 thousand tons.

Having a developed logistics network, well-established processes and stable relations with buyers from European countries, Romania is the main buyer of grain from Moldova. Next comes Turkey with 39 thsd tonnes, and about the same amount is exported to Switzerland – 37.3 thsd tonnes.

“It is important to note that Moldova has a fairly large number of corn processors – ethanol producers. According to the data provided, from 2021 to June 2024, 138.5 million liters of alcohol and 73.3 thousand tons of DDGS were exported. According to experts, it is necessary to consume approximately 374.3 thousand tons of corn to produce this amount of alcohol,” said Rizha.

This volume of corn, which could have been exported as grain, was sold on the foreign market as value-added products – ethanol and DDGS. These plants, according to the analysis, brought the country additional revenue of 44.7 million euros.

Tags: corn, export, Moldova