REUTERS
The State Food and Grain Corporation of Ukraine (SFGCU) and its strategic partner, China National Complete Engineering Corporation (CCEC), have agreed to increase grain supplies to China, though no details have been disclosed, according to the SFGCU's press service referring to Acting Chairman of the SFGCU Board Dmytro Gavrysh.
"It is important for us to focus on the successful implementation of the agreements between Ukraine and China. Therefore we will make every effort to ensure stable supplies of Ukrainian grain to the People's Republic of China," the press service quoted Gavrysh as saying.
At the same time, the report does not specify the size of the shipments.
The parties agreed to establish a Ukrainian-Chinese interdepartmental working group that would develop a mechanism for further bilateral cooperation. The sides also stressed the importance of negotiations and expressed their readiness to intensify cooperation in all promising areas.
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The SFGCU received UAH 297.58 million (US$11 million) in net profit in January-June 2017 (H1) against UAH 79.6 million ($3 million) in net loss year-over-year.
The State Food and Grain Corporation of Ukraine is a vertically integrated company that performs the complete cycle of operations with cereals and processed products, ranging from production to exports. The SFGCU has 55 branches, with a total working capacity of 3.75 million tonnes of crops. In particular, the total capacity of handling exports via the Odesa and Mykolaiv seaports is about 2.5 million tonnes of grain cargo per year.