(Yicai Global) Feb. 25 -- The Ukraine crisis is having varying effects on Chinese industries, with dairy farmers worried about rising raw material prices, while drug firms are uncertain and the retail sector seems basically unaffected, Yicai Global learned.

Chinese corn imports tallied 28.4 million tons last year, of which imports from Ukraine made up 29.1 percent, or 8.2 million tons.

Corn prices haven't fluctuated much thus far, although prices of soybean meal have risen to CNY4,500 (USD712.3) per ton from CNY3,500 per ton before Spring Festival. This is mostly due to a reduced harvest of Brazilian soybeans, Yicai Global learned, but farmers are expressing concerns over further price rises, as feed is one of their main costs.

Cow farmers are also worried that domestic milk prices might continue the fall that began in the fourth quarter last year amid the traditional off-season following Spring Festival. If milk prices cannot catch up with rising costs, the industry may face a new round of losses.

Chinese drug firms have launched international clinical research units in recent years with the aim of expanding into overseas markets, and Ukraine has been selected as one of the clinical trial bases by firms including Jiangsu Hengrui Pharmaceuticals, Beigene, Shanghai Henlius Biotech, Junshi Bio and Kintor Pharmaceutical.

Kintor is trying to get an overall picture of the situation and will release information as soon as they have it, the firm told Yicai Global. Hengrui and Beigene also said they were assessing the situation, while Henlius Biotec said the Russia-Ukraine conflict hasn't had a big impact since it started international clinical studies at an earlier time.

Junshi Bio told Yicai Global the Russia-Ukraine condition hasn’t yet impacted its clinical trials.

Large Chinese retailers such as Carrefour China, RT-MART and Freshippo have said they import relatively few goods from Russia and Ukraine, as they concentrate more on European countries and the US, so there has been little impact on supply chains.

Editors: Xu Wei, Tom Litting