China buys hefty amount of foreign grain as global prices slump
A truck unloads grain in a granary in the village of Zghurivka, Ukraine (Efrem Lukatsky/AP/PA)
China snapped up more than 20 cargoes of feed grain on the international market in the past two weeks as the world's biggest importer took advantage of a decline in prices to the lowest level in more than three years.
The country secured shipments of corn, sorghum and barley from suppliers including Ukraine and the US, according to people familiar with the transactions. The purchases amount to over 1.2 million tons of grain on the basis of each cargo being 60,000 tons.
