June 13, 2012

Ukraine to ship three-million-tonne corn to China

Ukraine has made a deal with China to transport three million tonnes of corn from July 2012 to June 2013, according to Nicholai Prisyuzhnik, Minister of Agricultural Policy and Food of Ukraine.

On June 8th, Ukraine's State Food and Grain Corporation, China's Exim Bank and the Ministry of Finance signed an agreement on the financing structure of the deal.

"For us, it is important to begin exporting corn to China, as China is the largest importer of this product," Prisyazhnyuk said.

The corn contract will be worth about US$1 billion to Ukraine's agricultural industry . This year one million hectares more of corn was planted than last year.

Currently Ukraine does not export any corn to China.