Ukraine farming union flags rising barley exports to China
"For China, 500,000 to 550,000 tons of barley are contracted (for July-August). Another 350,000 to 400,000 tons still need to be shipped in August," UAC said in its weekly report.
It said the total volume of barley contracted for export for July-August reached 770,000 tons.
Ukrainian analyst Barva Invest said this month that Chinese companies contracted to buy up to 700,000 tons of the 2025 Ukrainian barley crop.
Ukraine is a large barley producer and exporter and certified by Beijing to supply barley to the Chinese market.
China was the main importer of Ukrainian barley in the 2023/24 season with an import volume of 702,000 tons, said Ukrainian grain traders union UGA.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
32 minutes ago
- Reuters
Rivian loss bigger than expected on higher costs, lower credit income
Aug 5 (Reuters) - Rivian Automotive (RIVN.O), opens new tab reported a higher-than-expected quarterly loss on Tuesday as disruption in supply of rare earth metals used to make parts of its electric vehicles raised costs and income from credits sold to traditional automakers dwindled. China's curbs on the export of heavy rare earth metals —essential components for motors — sharply increased material costs and disrupted supply chains, driving up the cost of EV production in the U.S. The company reported an adjusted loss per share of 80 cents for the second quarter, compared with analysts' average estimate of 65 cents, according to data compiled by LSEG. Rivian also flagged a bigger adjusted core loss this year, expecting it to between $2 billion and $2.25 billion, compared with $1.7 billion to $1.9 billion previously forecast. The company largely blamed a tapering in the value of U.S. regulatory credits for the higher loss estimate. President Donald Trump administration's elimination of penalties for automakers not meeting fuel economy standards has drastically reduced demand for regulatory credits, which companies like Rivian previously sold to traditional automakers to help them avoid emissions fines. The company delivered 10,661 vehicles in the second quarter, marking a 22% decline from the same period a year earlier, as Rivian limited production to prepare for its 2026 model year launch. Earlier this year, the company slashed its 2025 deliveries forecast to 40,000 to 46,000 vehicles from an initial 46,000 to 51,000, citing U.S. tariffs resulting in cost pressures that dampened demand. The company shut down its plant for a week in the second quarter and will pause production in the second half of 2025 to integrate key production elements and prepare for the R2 SUV launch next year. The $7,500 federal EV tax credit expires at the end of September, eliminating a key competitive advantage that has driven electric vehicle demand, but analysts anticipate a surge in third-quarter sales as consumers rush to purchase EVs before losing access to the incentive. Revenue for the second quarter stood at $1.3 billion, surpassing analysts' average estimate of $1.28 billion, according to data compiled by LSEG. Cash and cash equivalents were $4.81 billion at the end of the June-quarter, compared with $4.69 billion in the preceding three-month period.
Reuters
32 minutes ago
- Reuters
US approves repair services for howitzer artillery guns, other military sales to Ukraine
Aug 5 (Reuters) - The U.S. State Department has approved the potential sale of repair and sustainment support for M777 howitzer artillery guns and transportation and consolidation services to Ukraine for an estimated total of $203.5 million, the Pentagon said on Tuesday. The principal contractor for equipment, repair services, and sustainment support for the howitzers will be BAE Systems (BAES.L), opens new tab, while the principal contractor for transportation and consolidation services will be determined from approved vendors, the Pentagon said in a statement.
Reuters
an hour ago
- Reuters
Two Chinese nationals in California accused of illegally shipping Nvidia AI chips to China
Aug 5 (Reuters) - Two Chinese nationals were arrested in California and charged with illegally shipping tens of millions of dollars' worth of AI chips to China, including Nvidia H100s, the U.S. Justice Department said Tuesday. Chuan Geng, 28, of Pasadena, and Shiwei Yang, 28, of El Monte, exported the advanced Nvidia chips and other technology to China from October 2022 through July 2025 without obtaining the required licenses from the U.S. Commerce Department, a criminal complaint says. According to the complaint, Geng and Yang's El Monte-based company, ALX Solutions Inc, was founded in 2022, shortly after the U.S. imposed sweeping export controls on technology to China and began to require licenses for the chips. A spokesperson for Nvidia declined comment. Over 20 shipments from ALX solutions went to shipping and freight forwarding companies in Singapore and Malaysia, which are often used as transshipment points for illegal goods to China. ALX received a $1 million payment from a China-based company in January 2024 and other payments from companies in Hong Kong and China, not the freight forwarding companies. Nvidia H100s are advanced chips that can be used to train large language models and for other applications, such as developing self-driving cars and medical diagnosis systems. Records show that from at least August 2023 to July 2024, ALX Solutions bought over 200 Nvidia H100 chips from San Jose, Calif-based server maker Super Micro Computer, declaring that the end users were in Singapore and Japan. Super Micro did not immediately respond to a request for comment. In addition to Nvidia's H100s, the pair are accused of illegally shipping Nvidia video graphics cards known as PNY GE Force RTX 4090, which also require a license for export to China. Geng and Yang appeared in U.S. District Court in Los Angeles late Monday, according to the Justice Department. Geng, a permanent resident, was released on $250,000 bond. Yang, who overstayed her visa, has a detention hearing on August 12.
