Ukraine: in 2015/16 MY, SFGCU to supply 1.5-2 mln tonnes of corn to China

Ukraine: in 2015/16 MY, SFGCU to supply 1.5-2 mln tonnes of corn to China

Ukraine: in 2015/16 MY, SFGCU to supply 1.5-2 mln tonnes of corn to China

The FINANCIAL -- PJSC State Food and Grain Corporation of Ukraine plans to supply 1.5-2 mln tonnes of corn to China at the market price, in 2015/16 MY, declared Borys Prykhodko, Acting Chairman of the Board of the Corporation, on June 24.

According to him, in the new MY the carry-over stocks of corn in China will reach 160 mln tonnes, or almost 90% of the annual consumption volumes.

The USDA forecasts the import volumes of corn to China at the level of 3-4 mln tonnes. B.Prykhodko expects that SFGCU will supply 1.5-2 mln tonnes of the reporting volumes to China, according to APK Inform.

According to him, the relationships of SFGCU with the Chinese corporation CCEC regarding the corn exports, are rather difficult, but B.Prykhodko thinks that the parties will find a compromise. The risks of trading with China are very high, and SFGCU is willing to work on the market.