18.03.2022, 14:46
China has Increased Purchases of Corn from the United States Due to the Crisis in Ukraine
Source: ИА «Ореанда-Новости»
OREANDA-NEWS China is increasing purchases of corn from the United States, as the Russian military operation in Ukraine has jeopardized the export of this crop, as well as the spring sowing campaign in the republic, Boomberg reports.
The agency refers to data from the US Department of Agriculture, from which it follows that China last week purchased 200 thousand tons of American corn. This was the country's largest purchase since December. Blomberg writes that although China was only the fourth largest state in terms of purchases last week, the volume is still significant, since Beijing used to focus more on Ukraine.
The USA is the main alternative in the supply of corn for China, the publication clarifies. It refers to the head of the Brazilian Agroconsult, Andre Pessoa, who notes that Brazil — the second largest exporter of corn in the world — has limited opportunities to increase its exports. In addition, Brazil's trade with China is hindered by certain rules in force within the framework of export-import relations between the two countries. In general, the demand for corn from the United States, Brazil and Argentina has increased sharply in recent weeks, but the volume of purchases has decreased, says Pessoa.
The US Department of Agriculture in its report dated January 31 reported that as of December 1, 2021, a record corn harvest of almost 40 million tons is expected in Ukraine in the accounting season 2021/2022. The final forecast of the Ukrainian authorities, as planned, will be published in April. As of mid-January, 13 million tons of the last harvest were exported.
In the accounting period of 2020/2021, China accounted for about 36% of Ukrainian exports of this crop (8.5 million tons in kind, a total of 24 million tons were exported), the document says. The Netherlands is in second place among the countries (10.7% of all exports of Ukrainian corn, or 2.5 million tons), Egypt is in third place (10.1% of all exports, or 2.4 million tons).
The agency refers to data from the US Department of Agriculture, from which it follows that China last week purchased 200 thousand tons of American corn. This was the country's largest purchase since December. Blomberg writes that although China was only the fourth largest state in terms of purchases last week, the volume is still significant, since Beijing used to focus more on Ukraine.
The USA is the main alternative in the supply of corn for China, the publication clarifies. It refers to the head of the Brazilian Agroconsult, Andre Pessoa, who notes that Brazil — the second largest exporter of corn in the world — has limited opportunities to increase its exports. In addition, Brazil's trade with China is hindered by certain rules in force within the framework of export-import relations between the two countries. In general, the demand for corn from the United States, Brazil and Argentina has increased sharply in recent weeks, but the volume of purchases has decreased, says Pessoa.
The US Department of Agriculture in its report dated January 31 reported that as of December 1, 2021, a record corn harvest of almost 40 million tons is expected in Ukraine in the accounting season 2021/2022. The final forecast of the Ukrainian authorities, as planned, will be published in April. As of mid-January, 13 million tons of the last harvest were exported.
In the accounting period of 2020/2021, China accounted for about 36% of Ukrainian exports of this crop (8.5 million tons in kind, a total of 24 million tons were exported), the document says. The Netherlands is in second place among the countries (10.7% of all exports of Ukrainian corn, or 2.5 million tons), Egypt is in third place (10.1% of all exports, or 2.4 million tons).
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