Ukrainian corn was won by American in China market

Switched to Ukrainian corn, because it is non-GMO. Photo:

Several Chinese companies have stopped buying corn in the US and prefer the corn from Ukraine.

This caused the policy of Beijing in the field of GMOs, according to Reuters.

At the end of 2017, China actively bought corn in the USA is genetically modified. This year companies has complicated the ability to obtain permission to import GM products.

“Traders this year are more inclined to buy corn in Ukraine, because it is non-GMO and does not require a permit for processing. Even those who ordered American corn, canceled the order and switched to Ukraine”, – said the analyst of Shanghai JC Intelligence Cherry Zhang.

The Chinese company in January cancelled the transactions for the purchase of corn, totaling about 210 thousand. tons and cost about $ 40 million.

The IMF estimated the approximate volume of the Ukrainian economy, which is in the informal sector, that is, pays no taxes and has no connection with the crime. The figure is 44.8 per cent.