HAMBURG: Chinese importers are believed to have purchased at least 65,000 metric tons of animal feed corn from Ukraine in deals on Monday, European traders said on Tuesday. The precise volume was unclear.
Traders estimated the price at around $236 ton c&f including shipment to China in April. This follows previous Chinese purchases of Ukrainian corn of between 240,000 to 600,000 tons reported on Feb. 27.
China is traditionally a large buyer of Ukrainian corn with purchasing continuing despite disruption caused by the war with Russia.
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“Grain ships continue to sail from Ukraine’s shipping channel despite the lack of safety guarantees from Russia and the ships offered for grain transport are getting larger as confidence increases,” another trader said. “Ukrainian corn is still very cheap despite some recent price rises and China looks like taking advantage of this.”
The trader added that there were indications the latest Chinese corn purchases will by shipped via the Red Sea. Analysts said on Friday that grain ships sailing from the Black Sea are still passing through the Red Sea without being attacked by Houthi militants in Yemen.
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