The Middle East and North Africa: One Year Later
Due to competitively priced corn, the United States has regained market share in the region
U.S. feed grain and co-product exports to the Middle East and North Africa have previously received tough competition from Black Sea and South American origin grains. However, this year due to competitively priced corn, the United States has regained market share in the region.
For the current marketing year that began Sept. 1, 2013, through July 3, 2014, the Middle East and North Africa have taken a combined 4.2 million metric tons (165 million bushels) of U.S. corn (accumulated exports plus outstanding sales), compared to only 275,400 tons (10.8 million bushels) over the same period last marketing year, more than a 1,400 percent increase.
At the U.S. Grains Council’s 54th Annual Board of Delegates Meeting in Omaha, Nebraska, on July 28-30, 2014, Cary Sifferath, USGC regional director of the Middle East and Africa, will present his insights on this dynamic region.
The crisis in Ukraine is obviously part of the explanation for the recovery in U.S. sourcing but is only a temporary factor. Many other factors are at work as well. Sifferath will explain to meeting attendees what that means for U.S. market share in the region.
“The United States has always been the long-term reliable supplier of high quality corn,” said USGC Chairman Julius Schaaf. “While Black Sea producers will continue to provide strong regional competition, the Council will continue to maintain a strong presence in the region and will continue to be creative market developers.”
To register for the Council’s annual summer meeting, click here.