Ukraine is looking to begin exports of corn to the U.S., taking advantage of the recent U.S. drought that left domestic supplies short, according to the country's Agriculture Minister Mykola Prysyazhnyuk.
Being able to export to the U.S. would verify that Ukraine's corn meets appropriate global standards, said Prysyazhnyuk. The two countries are currently discussing sanitary requirements.
Ukraine increased its corn plantings for the 2012 harvest by 26 percent to 4.4 million hectares, according to government data. Ukraine plans to export about 12 million metric tons of corn in the year ending August 31, 2013. Overall, it plans to increase its corn plantings by another 5 percent to 7 percent in 2013.
The country's domestic corn stockpiles declined as of December 1 to 11.2 million metric tons from 13.9 million tons in 2011.