July 27, 2010

China's corn imports to hit 15 million tonnes by 2015

China's imports of corn will reach 1.7 million tonnes this year, leaping to 5.8 million tonnes in 2011 and as much as 15 million tonnes by 2014-2015, said Shanghai JC Intelligence (JCI) chairman and chief consultant Hanver Li on Monday (Jul 26).

The country's demand for corn was outstripping its production, thanks to economic growth creating demand for meat, milk and eggs, which in turn require a greater volume of animal feed such as corn, he added.

China has imported the largest volume of US corn this year since at least 1995, following a poor harvest last year and uncertain prospects for this year's crop because of delayed planting in the main growing areas in the northeast.

To help meet demand for animal feed, China has also massively increased imports of distiller's dried grains with solubles (DDGS) this year, with 1.146 million tonnes imported in the first six months, a seventy-fold increase from the first half of 2009.

DDGS is a by-product of ethanol production which can be used to make animal feed.

JCI estimated China will import 1.5 million to 1.8 million tonnes of US DDGS this year, which will make it the largest importer.

Li said JCI saw per capita meat consumption growing from 59 kg in 2005 to 61.7 kg this year and 63.1 kg in 2015, while milk consumption would be 22.0 kg, 30.1 kg and 33.4 kg in those years, and aquatic products 39.2 kg, 44.1 kg and 48.9 kg.