SFGCU may supply 5 mln t of grain to China

The State Food and Grain Corporation of Ukraine (SFGCU) is committed to further cooperation with its strategic Chinese partner, China National Complete Engineering Corporation (CCEC), the Corporation announced during the negotiations with CCEC management on optimization of trade in Ukrainian grains.

The talks were led by the president of CCEC, Yang Jing, and the acting chairman of the SFGCU board, Andriy Vlasenko.

"The Ukrainian side, in particular, informed its Chinese partners of the possibility of supplying 2 mln t of early grains and 3 mln t of corn," the SFGCU says in a statement.

Andriy Vlasenko added that the Corporation completed the required set of preparatory work at its port facilities in Odesa and Mykolaiv, and in accordance with the requests of the Chinese side to service vessels above 70 thou. t DWT. The SFGCU reached an agreement with partners on the possibility to transship additional 1 mln t of commodities in the port of Chornomorsk.

The negotiations resulted in an agreement between the Ukrainian and Chinese sides to set up two working groups to coordinate financial cooperation and grain exports.

In May, China imported 523.5 thou. t of Ukrainian corn.

As of June 18, staple grains export from Ukraine equalled 43.42 mln t, 22% down YoY.

In the 2021/22 season, the wheat export potential is forecasted at 19.8 mln t (+13%), barley at 4.3 mln t (+1%) and corn at 29.5 mln t (+27%).

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