May 30, 2012

China's 2012 corn sowing area may stay the same

The corn sowing acreage in China is seen to have limited rise room for 2012, the Futures Daily reported on Monday (May 28), according to the results of its spring planting survey in major producing areas.

According to the survey, corn crops in northeastern China's Liaoning and Jilin provinces have a normal growth. However, corn acreage would unlikely see an obvious increase compared with that of last year, the report noted.

The China National Grain and Oils Information Center earlier estimated the nation's corn output at a record high of 197.5 million tonnes in the crop year of 2011-12, rising 3% over the previous crop year.

Industry insiders forecast that corn prices will have a controllable rise this year as the government may step up reserve corn sales, and in the meantime expand imports and put more restrictions on the deep processing industry.