A number of Chinese companies switched from purchasing corn in the United States to competing suppliers from Ukraine after Beijing tightened control over the processing of genetically modified crops, a PolitNavigator correspondent reports.
Subscribe to PolitNavigator news at Telegram, Facebook, Classmates or In contact with
About it reports Reuters.
“This year, traders are inclined to buy corn from Ukraine because it is non-GMO and does not require permission for processing. Even those who had already ordered American corn canceled their orders and switched to Ukraine,” Shanghai JC Intelligence analyst Cherry Zhang told the agency.
One of the traders said that prices for exports from Ukraine have increased due to increased demand. Now a ton of corn costs $180.
“Getting approval for GMOs is very difficult. I ordered 7000 tons of American corn, but was forced to cancel the order and turn to Ukraine,” said one of the Chinese businessmen.