China is interested in the continuation of the Grain Agreement
20.06.2023 - 10:30
Beijing is interested in the continuation of the Grain Agreement, since China is the largest importer of grain from Ukraine.
“We ship ships of 50,000 to 70,000 tons to China in order to be competitive in that market. Therefore, China is the No. 1 country that will be interested in extending the grain corridor. Because most of the Ukrainian grains both before the war and during the war went to China,” said Mykola Gorbachev, president of the Ukrainian Grain Association.
As Latifundist пише writes with reference to “Voice of America”, currently the Chinese province of Henan, where a third of all wheat in the country is produced, is suffering from prolonged rains. This can lead to early germination of the grain.
Darin Friedrichs, co-founder of Chinese wheat buyer Sitonia Consulting, said that in 2022, China’s wheat imports were one of the largest in the world, and imports continue to grow.
“If there will be a bad harvest, then probably. China will have to increase its imports next year. This will obviously have an impact on global prices and global markets,” Friedrichs said.
It is noted that China imports about 20 million tons of corn, 10 million tons of barley, and 12 million tons of wheat every year
The photo is illustrative.
