January 14, 2019
China could see bigger supply gap of corn this year
China could see a supply gap of corn that is bigger than a year earlier, according to the country's Ministry of Agriculture and Rural Affairs' projection.
This gap would last from October 2018 to September 2019. Corn output for the period is expected to drop by 0.7% year-on-year to 257 million tonnes, a report by the Chinese Agriculture Outlook Committee, an advisory body under the ministry, stated. Consumption will increase by 5.5% to 285 million tonnes.
Corn used as animal feed will expand 3.5% year-on-year to 178 million tonnes. Industrial consumption of corn will increase 12.7% year-on-year to 84.5 million tonnes.
From October 2017 to September 2018, China's corn output reached 259 million tonnes (down 1.7% year-on-year), while its consumption grew 4.4% to 270 million tonnes.
During that period, the country's net corn import stood at 3.45 million tonnes, according to the report.