The State Food and Grain Corporation of Ukraine plans to export soybeans to China

The State Food and Grain Corporation of Ukraine plans to export soybeans to China

11.05.2016 News

The State Food and Grain Corporation of Ukraine plans to expand the list of export products sold in China, and to enter the Chinese soybean market, says the  “UkrAgroConsult”.

It is reported that this is a promising direction because of no quotas, the quality of Ukrainian soybeans, namely, the statutory bar for GMO content and the growing needs of China, which holds a leading global position in import of this product. The Corporation intends to acquire within the existing program of forward purchase 45 thousand tons of soybean seeds with the advance payment of 3.96 thousand UAH for 1 ton.

About the prospects of this vector of Ukrainian exports, says  the fact that China became the importer of Ukrainian soybeans only in the current 2015/2016 season.

“With the growing Chinese economy, in today the China exhibits more interest in the products of processing  soybean of Ukrainian production. This is about the structure of the Ukrainian exports of soybean oil, where almost 60% (53.1 thousand tons) is in supply to China”, – said in a statement.

The State Food and Grain Corporation of Ukraine (SFGCU) was established according to the Resolution of the Cabinet of Ministers of Ukraine from August 11, 2010.

It includes an extensive network of branches – linear and port elevators, flour mills, animal feed and grinding plant.

44 units of the branch of  SFGCU can store a total of 3.46 million tons of grain, including total capacity for handling to the export of Odessa and Nikolaev ports. Combine system counts 500 combine harvesters.

Source: latifundist.com

 

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