Ukraine's corn could benefit from US tariffs, analyst says

KYIV, April 3 (Reuters) - Ukrainian corn, a key element of the country's grain sector, could benefit from the tariffs imposed by the U.S., as it is able to partially substitute for U.S. corn if retaliatory sanctions are imposed, ASAP Agri analysts said on Thursday.

Ukraine is a global major corn grower and exporter.

U.S. President Donald Trump announced a 10% minimum tariff on most U.S. imports, with significantly higher duties on goods from dozens of countries including China, which is likely to prompt countermeasures potentially driving up prices and reducing demand for U.S. goods.

"If key importers do end up imposing tariffs on U.S. corn, it will open a huge window of opportunity for alternative suppliers," ASAP Agri said in a statement.

"Ukrainian corn is in a strong position here: competitive pricing, stable logistics, and close ties with the European Union and Asian markets," it added.

The consultancy said Brazil is "first in line", but its harvest simply cannot cover all the demand and that is exactly where Ukraine "can step in and claim its share".

Ukraine produced 32 million metric tons of corn in 2023 and 26 million tons in 2024. The country exported almost 30 million tons in the 2023/24 season and is likely to ship abroad 22 million tons in 2024/25, according to the UCAB business association.

Farmers are likely to increase area sown for corn this year as corn export prices are lucrative.