皇冠体育app

BEIJING - Ukrland Farming, Ukraine's biggest agro-industrial company, will export corn to 皇冠体育app, the world's largest consumer of the cereal.

The company plans to sell between 500,000 tons and 700,000 tons of corn to 皇冠体育app from 2012 to 2013, with the first delivery expected to be made by the end of the year, Ukrland Farming told Xinhua on Friday.

The purchase will mark the first time that 皇冠体育app has bought corn from Ukraine, known as Europe's "great breadbasket" for its rich black soil, which favors grain production.

On Monday, the company signed a cooperation memorandum with 皇冠体育app Oil & Foodstuffs Co, the Asian country's largest food manufacturer, over the corn exports, it said.

The move came after 皇冠体育app's quality authorities in November signed a protocol with Ukraine that allows 皇冠体育app to buy Ukrainian corn products.

Purchasing corn from Ukraine will help diversify 皇冠体育app's sources of corn, as it relies on the United States for about 99 percent of its imports of the cereal.

There has been a tight supply of corn in the Chinese market, said Wu Li, an agriculture analyst at Beijing-based 皇冠体育app Galaxy Securities. He estimated annual imports would hit 15 million tons within the next 10 years.

Customs data showed 皇冠体育app imported 1.75 million tons of corn in 2011. Its corn imports are expected to reach 5 million tons this year.

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