Brazil is ahead of Ukraine in the Chinese corn market

Since the beginning of the war in Ukraine, China has been looking for new agricultural partners. As a result, Beijing has added Brazil, Myanmar and South Africa to its approved list of corn suppliers, SCMP writes.

It is noted that according to the Chinese customs, China imported more than 20 million tons of grain last year, the largest suppliers were the United States and Ukraine. However, in the first quarter of this year, Brazil was ahead of Ukraine, taking 28.8% and 27.7% of imports, respectively.

Experts note that the shutdown of the grain corridor will definitely have an impact on the Chinese grain market.

“Ukraine was the cheapest source because we have a well-developed infrastructure there, developed mainly by the state-owned food giant Cofco over the past decade. Without imports from Ukraine, prices on the domestic market will rise. And China needs to get more from Brazil and other partners such as the US, Canada and Australia,” said Ma Wenfeng, senior analyst at Beijing Orient Agribusiness Consultant.

Tags: Brazil, Ukraine, China, corn