IMC obtains permit to export corn to China

11:58, 02.11.2015 1 min read

Industrial Milk Company (IMC) has obtained a permit to supply corn to the Chinese market, the company said on the website of the Warsaw Stock Exchange (WSE).

The company said that in addition, four silos owned by the company were certified for storage of corn for export to China.

"The ability to enter the Chinese market is not only the geographical diversification of sales, but also the opportunity to get the higher price," the company said.

Currently, about 90% of IMC’s revenue comes from export sales of grain. The Middle East, the European Union and North Africa are the current export destinations.

As reported, the Chinese market was opened to Ukrainian corn in 2012. The first consignments were shipped in 2013.

Ukraine exported over 2.7 million tonnes of corn in 2014/15 agricultural year (July-June), which is 5.4 times more than a year ago.