Romanian corn exports in October-February of the 2021-22 marketing year were focused on the Middle East at the expense of EU-27 member states, which have partially turned to France for supply of crop.
The EU-27's multi-year high corn export volumes to third countries over October-February are mostly thanks to surging corn exports from Romania. Romanian corn exports to third countries peaked at the start of the corn marketing year in October (see chart), subsequently surpassing multi-year records and staying well above the pace of the previous seven marketing years. This was in part because of delayed corn exports from Ukraine, caused by wet weather in September and logistical problems that persisted well into November.
But Romania's corn exports stayed at multi-year highs even as those of Ukraine also surged to record highs in late January. Romania exported 3.15mn t of corn in October-February, according to lineup data, most of it to non-EU members (see chart). Romania usually exports 1.5mn-3mn t of corn, which this year could rise by 10-20pc from last year, according the Romanian corn growers' association APPR executive director Alina Cretu. But the country's corn stocks are already running low and exports could significantly slow in April before new crop hits the market in autumn, Cretu said.
Exports to the EU-27
Romanian corn exports to other EU-27 member states fell in October-February (see chart). The steepest reductions on the year were to Italy, the Netherlands, France and Spain. This came as France's bumper harvest in the 2021-22 season saw the country export record volumes to other bloc members.
Spain — the largest importer of Romanian wheat in the EU-27 — imported less Romanian corn on the year in October-February, but slightly above the previous five-year average. And last season's Romanian corn imports to Spain may have been uncharacteristically high, replacing reduced imports from Ukraine — 1.17mn t in October-February 2020-21, compared with 1.77mn t in October-January 2021-22 and averaging 1.63mn t for October-February over the previous five marketing years.
And Spain imported more corn from France in 2021-22, putting pressure on Romanian corn import volumes.
Dutch corn imports from Romania fell by 73pc on the year in October-February to 71,600t — also well below the five-year average of 197,800t. But the decrease may have been offset by rising exports of French and German corn, despite reduced shipments from Romania and Ukraine.
Italy's imports from Romania also fell on the year in October-February — down by 86pc to 40,600t — and well below the last five-year average of 334,500t. But Italy's receipts for French corn rose on the year, partially offsetting reduced Romanian corn volumes.
Belgium increased Romanian corn exports on the year in October-February to 64,900t, up from 3,600t in 2020-21 and above the previous five-year average of 7,700t.
As for non-members, Iran's imports of Romanian corn surged in October-February and were well above the previous five-year average on reduced shipments of Brazilian corn.
And Egypt, after importing considerably smaller volumes in October-February 2020-21 than the last five-year average, also considerably ramped up shipments of Romanian corn in 2021-22.
