In 2015, Ukraine’s state grain firm plans on supplying up to 4 million tonnes of maize to China in line with a loans-for-grain contract signed in 2012. Under the agreement, the Export-Import Bank of China provided loans to Ukraine in exchange for supplies of grain. As of May 2015, Ukraine has shipped more than 500 000 tonnes of grain to China and plans on exporting and additional 3.5 million tonnes by the end of the year. Overall, export to China would account for about 23 percent of the country’s exportable surplus in marketing year 2014/15 (July/June) and represents a large increase from the previous marketing year when only 1 million tonnes were exported to China.