Chinese importers are believed to have made large purchases of animal feed corn from Ukraine in the past two weeks, traders in Asia and Europe said on Thursday.
The traders were unable to say the precise volumes but several said they amounted to several hundred thousand metric tons. A Ukrainian government source also confirmed corn sales to China.
“Importers in China have bought around 10 to 12 Panamax cargoes of Ukrainian corn for November/December shipment,” said a Singapore-based trader at an international grains trading company, referring to a size of ship with a capacity that typically exceeds 60,000 tons of grain.
“Ukraine is the cheapest origin for corn as of now,” the trader said. A Ukrainian government source said: “I cannot tell you the volume, but I know that many (traders) did it and it is a good trend (for Ukrainian corn).”
China is traditionally one of the biggest buyers of Ukraine’s corn to meet its animal feed needs. Chinese corn shipments were among the largest freight types transported in the UN-backed safe shipping channel.
