January 14, 2004

China Corn Exports To Fall By 8 Million Tons in 2004

China's corn export is expected to fall by 8 million tons in 2004, grain experts say.

According to a report from Zhengzhou grain wholesale market, 2003 was a strong year for corn exports from China. But in the face of fierce competition on the international market, the report said exports are likely to decrease in 2004.

Qu Xiaofeng, a grain expert, pointed out that an adjustment in policy will affect the corn export. Less fiscal support will lead to a decrease of corn export volume and narrow the profitability of export enterprises.

Meanwhile, China's corn inventory is expected to fall further in 2004, which will inevitably result in tight supply on the domestic market and less corn exports.