According to information published by the United Nations Joint Coordination Centre, as of June 20, 2023, one-quarter of all grain and oilseed volumes shipped under the Black Sea Grain Initiative were destined for the People’s Republic of China (PRC), making it the single largest recipient of food and feed commodities.
Since the signing of the Black Sea Grain Initiative, which allows for commercial food and fertilizer exports from eligible Ukrainian ports, approximately 32.1 million metric tons (MMT) of food and feed grains and oilseeds have shipped to world markets.
Of this volume, over 7.2 MMT were shipped to China, including 5.6 MMT of corn, 1.8 MMT of sunflower seed meal, 370,000 metric tons (MT) of sunflower oil, and 340,000 MT of barley.
The Black Sea Grain Initiative was brokered in July 2022 and will expire July 17.
Read the USDA report: Black Sea Grain Initiative Shipments Benefit PRC.
In related news, USDA’s Agricultural Marketing Service (AMS) released its latest Ukraine Grain Transportation report. In the report, AMS notes that transportation costs to ship corn from Ukraine to Shanghai, China, rose 58% from 2021 to 2022. Total landed costs, however, declined 15% because of a fall in farm prices.
