China bought 200,000 tons of corn from the US last week, the highest since December. China fears that military operation in Ukraine will negatively affect its exports
Photo: China Photos / Getty Images
China is stepping up purchases of corn from the United States as the Russian military operation in Ukraine threatened the export of this crop, as well as the spring sowing campaign in the republic, according to Boomberg.
The agency refers to data from the US Department of Agriculture, from which it follows that China bought 200,000 tons of American corn last week. It was the country’s biggest purchase since December. Blomberg writes that while China was only the fourth-biggest buying nation last week, the volume is still significant, as Beijing used to focus more on Ukraine.
The United States is the main alternative in the supply of corn to China, the publication clarifies. It cites Brazilian Agroconsult head André Pessoa, who notes that Brazil – the world’s second largest corn exporter – has limited ability to increase its exports. In addition, Brazil’s trade with China is hindered by some of the rules that govern the two countries’ export-import relationship.
Overall, demand for corn from the US, Brazil and Argentina has risen sharply in recent weeks, but purchases have declined, Pessoa said.
Russia temporarily bans grain and sugar exports
