February 3, 2012

 

China downplays rising import concern on corn 

 

 

China has not changed its grain import policy and will still allow an "appropriate volume" of imports, toning down global concern over the country's rising corn imports, a top agricultural official said Thursday (Feb 1).

 

"There is no change regarding the country's grain import and export policy," Chen Xiwen, director of the Office of Central Rural Work Leading Group, the top body which guides the country's agricultural policy.

 

"We will continue to import to make up for the needs of some special quality grains...and import an appropriate volume."

 

Chen said the world's most populous country was able to ensure its food supply and argued that China actually exported more corn than it imported, because exports of corn-based products, such as alcohol and starch, were higher.

 

China turned into a net corn importer since 2010 from a major exporter in 2002 and 2003.

 

The country's purchase of more than three million tonnes of US corn last year to refill its depleted state reserves sparked global concern that the country may become a large importer as it did in soy. China, the top importer of soy, buys about 60% of volume traded globally.

 

Chen said the government will continue to invest more in agriculture as well as research of high-yield seeds to help boost domestic production.