Tridge summary
China has increased its supplies from Brazil of corn and soybean meal, potentially impacting Ukrainian exporters as China was a major buyer of Ukrainian corn and sunflower meal. The decrease in demand from China could negatively affect Ukrainian exporters, especially meal producers. China and Brazil have also agreed to supplies of soybean meal, a product China previously did not allow import. Despite the signing of a sanitary protocol between the two countries, Brazilian enterprises have not yet received permission to supply from the Chinese authorities. In response to limited export opportunities by sea, feed manufacturers in Ukraine have reduced the demand prices for sunflower meal almost three times.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
China, which was previously the main buyer of Ukrainian corn and sunflower meal, has accelerated the signing of permits to increase supplies from Brazil since the beginning of the conflict in Ukraine. In 2020/21 MY, the share of Ukrainian corn in China's total imports was 29%, and sunflower meal - 88%. Therefore, a decrease in demand from China will have a negative impact on Ukrainian exporters, especially meal producers. At a bilateral meeting of representatives of the Chinese-Brazilian High-Level Commission on Cooperation and Understanding (Cosban), supplies of soybean meal to China were agreed, which previously bought only soybeans in the range of 70-80 million tons per year and did not allow the import of soybean products. Before that, China and Brazil agreed on the possibility of corn supplies, but the actual export has not yet begun, despite the signing of a sanitary protocol between the countries. Brazilian enterprises have yet to certify products in the fields and obtain ...
Source: Oilworld
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