Beijing: Ukrainian agricultural conglomerate UkrLand Farming Public Ltd (UFL) has signed MOUs with China National Cereals, Oils and Foodstuffs Corporation (COFCO) and Rongsheng Heavy Industries respectively in Beijing to expand collaboration in grain supply which includes a potential order for bulk carriers for grain transport.
According to the MOUs, UFL will order two bulker carriers at Rongsheng but no firm contract has been made yet and it will start corn exports to China under cooperation with COFCO, China's largest food processing, manufacturer and trader.
“Ukraine will be the second largest corn producing country in the world within next 5-7 years and annual export volume will reach 50m-60m tons by then,” said UFL’s President Oleg Bakhmatyuk at the signing ceremony.
“We plan to export at least 5m tons of corn to China annually in the next five years and the first shipment will arrive by the end of this year, and China will become our biggest market,” Bakhmatyuk added.[10/12/12]