April 8, 2008

Taiwan imports corn, feed supply from China and India on price pressures

Taiwan has recently imported corn and other feed stocks from India and China, displacing US exports this year due to high costs.

The additional supplies are expected to displace about 475,000 tonnes of corn this marketing year, analysts said. 

Taiwan usually imports around 4.4 million tonnes of corn, majority of which is supplied by the US.

Due to Taiwan's import of Chinese corn, the US is expecting additional competition in the future.

By the end of 2008, Taiwan is projected to ship 200,000 tonnes of corn from China, as COFCO has already agreed to supply the quantity and has extended its opening for Chinese corn until December.

From October 2007 to February 2008, Taiwan also imported Indian corn, although the volume has not been disclosed.

Furthermore, Taiwan has encouraged its farmers to grow more corn, with officials targeting an additional 40,000 tonnes of corn.