February 20, 2004

China Issue 1.4 Million Tons Corn Export Quotas

China has issued its first batch of 2004 corn export quotas totaling 1.4 million tonnes of output, local exporters said on Friday.

"The government has given out the quotas to each province," said an official at the country's top corn exporter, the Jilin Grain Group (JGG), who added they were still waiting for clarification of tax rates on the exports before making any offers.

The official said Jilin province had received 930,000 tonnes of the export quotas.

Another exporter in the northeastern Heilongjiang said the province had received

220,000 tonnes.

Concerned with declining grain stocks, the Chinese government has reduced corn exports sharply this year after exports hit a record 16.4 million tonnes in 2003.