China refused Ukrainian grain shipments
12.04.2024 - 12:56
Chinese buyers are canceling corn supplies due to new government measures to support domestic farmers.
Chinese importers refused to accept 4-5 shipments of Ukrainian corn, which were previously ordered for April-June. This is reported by Bloomberg.
The cancellation came after Chinese customs officials asked traders to limit the supply of foreign corn to customs zones. The decision was taken to allegedly reduce excess domestic supply and support prices for local farmers ahead of the planting season.
A cut in supplies to China could have a big impact on global grain prices, which are already under pressure after bumper harvests in the US and Brazil.
Recently, USM wrote that Ukraine planned to export 1 million tons of grain to China within two months.
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