China Looks to Ukraine as US Corn Supplies Dry
Jul 20, 2012 06:27 AM EDT | By Sriranjini
China and Ukraine may soon be signing a treaty to help each other through the US corn export crunch.
As the export of corn from the U.S. is on the decline, China- the second biggest consumer of corn- is looking to new sources to provide it with corn.
Like Us on Facebook
Talks about Ukraine supplying corn to China have been going on between top government officials from both the countries. Other food commodities might also be traded between the two.
Oleg Bakhmatyuk, chairman of the board of UkrLandFarming (ULF), the largest Ukrainian agro-industrial company, said he had been encouraged by talks between Minister of Agriculture Han Changfu and Ukrainian Foreign Minister Konstyantyn Hryshchenko.
"Chinese government officials have attached great importance to agricultural cooperation with Ukraine and we believe we will soon have market access for Ukrainian corn to enter China," said Bakhmatyuk, who was part of the official Ukraine delegation.
The ULF has also been speaking with some of China's top food companies like China Cereals and China Oil and Food Corporation about strengthening their commercial ties.
According to official data, China imported about 1.88 million tonnes of corn in the first five months of this year. And, likely, it the supply of corn from Ukraine to China could be about 20 percent cheaper than the price paid to the U.S.
Analysts agree that the two countries are highly complementary in the agricultural sector, and food imports from Ukraine could help reduce China's reliance on traditional suppliers such as the US.
"China can provide Ukraine with production materials such as seeds and agricultural machinery, while Ukraine can sell its products to China," said Huang Dejun, general manager of Beijing Orient Agribusiness Consultant Ltd, a consulting firm specializing in agribusiness consulting services.
Moreover, the Ukrainian corn is not genetically modified. This will probably make it more popular in the Chinese market.
Bakhmatyuk also aims to supply China with other farm produce like pork, chicken and sunflower seed oil.
Good news awaits for the food addicts in D.C and surrounding areas, who have been sad over not being able to enjoy the Restaurant Week. People will be able to enjoy the amazing yet cost – effective meals even in the beginning of February.
According to the FDA, the recall was announced after a routine testing revealed the presence of Salmonella in a one-pound bag of raw pistachio kernels bought online.
Fast food giant KFC came out triumphant after filing a lawsuit in China against three local tech firms for spreading out allegations on social media accusing the Yum Brands restaurant of selling genetically modified chickens with "six wings and eight legs".
The car service company is setting up to launch 'UberEATS', a stand alone app that will enable its users from Los Angeles, Chicago, New York, Austin, San Francisco, Washington D.C., Houston, Seattle and Dallas to utilize their food delivery service
Now that juices and detox cleansing have become quite the norm, mixologists are itching to bring something new to the table. Enter: Activated charcoal.
Starbucks has reached another milestone after its newest technological innovation was launched. The coffee company giant has received and has processed 1 million orders from US customers through their mobile application.