EU sanctions slash Ukraine's maize exports to Iran
Posted by Labels: Bans and Sanctions, Corn, European Union (EU), Grain, Iran, Ukraine
Ukraine's maize exports to Iran dropped 40 percent in January due to problems collecting payment from Iranian buyers after the European Union tightened sanctions, a leading Ukrainian agricultural consultancy said on Friday.
Ukrainian and European traders said this week they were no longer booking cargoes on Iranian ships to transport grain exports from Ukraine because of difficulties with payments following European Union sanctions.
As news of the drop in maize exports to Iran emerged, Ukraine's farm minister said grain traders were in talks with Iran to save a valuable market.
The ex-Soviet republic is a top maize producer and exporter in the Black sea region.
"Talks are underway with Iran on the issues which have emerged.
Today, grain traders are holding consultations (with Iranian traders) but it is important for us to avoid losing this market and other markets too," Ukraine's grain traders' union UZA quoted the minister, Mykola Prysyazhnyuk, on Friday as saying.
It was not clear at what level these talks with Iran, a major importer of food and animal feed, were taking place.
Most Iranian grain deals are between private entities, traders said.
Iran in 2011/12 is expected to import around 4.5 million tonnes of grain, including about 3.5 million tonnes of corn, the leading world grain for animal feed, according to International Grains Council figures.
It ranks among the top 10 global importers of maize.
Its key corn suppliers include Brazil, Argentina and Ukraine.
Iran's total grains production for 2011/12 is forecast at 18.7 million tonnes, down from 20.7 million a year earlier.
Wheat production is seen at 13.8 million tonnes versus 15.5 million, potentially drawing in more imports from Russia and Kazakhstan, traditional suppliers of high quality wheat.
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