Construction of Korea’s First Overseas Grain Export Terminal Completed in Ukraine
Posco International, the trading subsidiary of Posco, is the first Korean company to construct an overseas grain export terminal. The company’s new grain facility is now operational at the port of Nikolayev, one of the largest export ports on the Black Sea, and one that is responsible for shipping 22.3 percent of all grain out of Ukraine.
The new terminal, which has the capacity to ship 2.5 million tons of wheat, corn, and soybeans per year, will serve two purposes for Pasco - it helps build demand throughout Asia, and the MENA region by giving Korea early procurement, and it gives Pasco a greater level of traceability through control of the entire supply chain from logistics, and production, to inspection, storage, and shipment. Pasco has also partnered with Ukraininan logistics firm Orexim, as it aims to become the largest food resource company in Korea. Ukraine’s grain production has almost doubled over the 10 years since 2007, increasing from 40 million tons to 77 million tons in 2017, and the country’s exports have increased fivefold, from 8.5 million tons to 43 million tons, making the country one of the top five grain exporters in the world.