For the first time after cancellation of the export duties, maize prices on the domestic market of Ukraine reduced by 100-150 UAH/t, to the level of 1500-1550 UAH/t (EXW - Central Ukraine), declared the Ukrainian Agrarian Confederation on November 8, according to Xinhua.

The Confederation associated such reduction of prices with the record grain harvest and problems with grain accumulation in the local elevators.

The bearish trends on the market of maize are supported by continuing inflow of the crop volumes from fields, agrarians still have to harvest the remainder of over 4.5 mln tonnes of maize. The yield of maize in Ukraine is about to reach the historically record level - 60 c/ha, said Sergei Stoyanov, General Director of the Ukrainian Agrarian Confederation.

In CPT-port terms, maize prices stayed constant - 1750 UAH/t, due to operative purchasing of maize in the ports by exporters to complete formation of ship consignments, according to the Confederation.

As a reminder, according to the legislative amendments to the Tax Codex which came into force on October 22, 2011, the customs duties on wheat and maize exports were canceled, but the duties on barley exports were still kept.