From Oct 2024 to Jan 2025, Turkey imported 1.86 MMT of Ukrainian corn, nearly 10 times more than during the same period last season, when imports totaled just 194 KMT.

As a result, Turkey has overtaken Spain as the largest importer of Ukrainian corn. 

The surge in Turkish demand, particularly during the first three months of the season, was driven by an active corn import quota.

Meanwhile, Spain has significantly increased its purchases of U.S. corn this season.

"For the Spanish market, it has been harder for Ukraine to compete this season, as U.S. corn was often priced 4–7 USD/MT cheaper than Ukrainian corn during Oct 2024 – Jan 2025. And only at the end of Jan-early Feb, this price difference appears to have narrowed," said Christina Serebriakova, CEO at ASAP Agri and Broker at Atria Brokers.

As ASAP Agri previously reported, Turkey may postpone its decision to grant a 1 MMT corn import quota with a low 5% customs duty. Read more here https://asapagri.com/blog?journal_blog_post_id=286