China refuses to accept previously ordered batches of Ukrainian corn - Bloomberg
Kyiv • UNN
China refuses to accept previously ordered deliveries of 4-5 batches of Ukrainian corn from April to June to reduce supply on the domestic market and support prices for its farmers before the sowing season.
Chinese importers cancel the delivery of 4-5 shipments of corn from Ukraine, which were previously agreed for the period from April to June. As they seek to implement new government measures to support domestic farmers. This was reported by Bloomberg, according to UNN.
Details
According to the publication's sources, China is trying to reduce supply on the domestic market and support prices for its farmers before the sowing season. To this end, the country's importers will not accept 4-5 batches of Ukrainian corn, which China ordered earlier to be delivered from April to June.
This decision was made over the past two weeks. At the same time, the interlocutors noted that in the future China may disrupt more foreign supplies. Bloomberg explains that traders can supply corn from abroad and mix it with other ingredients in animal feed before importing it at a lower tax rate.
However, local authorities in China's border areas have banned traders from building new grain blending plants and told them to reduce corn supplies to these areas compared to 2023. February 8 China allows imports of honey from Ukraine. Kyiv has been working on opening a new market for the product since 2019.
Recall
The international rating agency Fitch has lowered its outlook on China's credit rating to negative, citing risks to public finances as the economy faces growing uncertainty in the transition to new growth models.
