FEED Business Worldwide - August, 2011
The 4th China International Agribusiness Summit
Held on June 15-17 in Beijing, the 4th China International Agribusiness Summit 2011 was attended by leaders from the Chinese government and worldwide corporations. Major industry players worldwide attended the summit, including COFCO, CNCRC, China Merchandise Reserve Management Centre, Cargill, Wilmar International, Sinotrans Group, Zheng Bang Group, China Corn and Syngenta.
Themed "Achieving Sustainability in a Volatile Market", the conference focused on helping attendants understand China's agribusiness market, including the policies and regulations on the agriculture industry.
After a pre-conference on June 15 providing background information of the China agribusiness sector, the conference addressed issues on the various sectors, including GM crops, corn, wheat, cotton and sugar markets on the second day.
Experts seem to agree that China will not be producing enough grains to supply its domestic market in future. Feng Lichen, CEO of a China corn website, presented his view on China's corn market, whose recent imports has attracted world attention.
Feng forecast in his reports that amid increasing population and corn consumption, "while the growth of acreage of corn and other agricultural products is limited or even negative, it is very hard to fill the demand gap by increasing yields alone". He said that the need for the country to import more corn is obvious, and China may become a net corn importer henceforth.
Liu Shuren, COFCO's deputy general manager of wheat processing division, sees that there will be an undersupply of wheat in China in the long run. He expects the government to adopt a tight wheat export policy, as imports will be hampered by strong grains prices globally.
The last day of the conference wrapped up the three-day event with a macro touch, starting with "Outlook and analysis on China's agricultural market". Robert Day, commercial director of Cargil. Day kept audiences informed of the global supply and demand for feed ingredients, including corn, soy, soymeal and DDGS.
Meanwhile, Tu Changming, deputy general manager of Wilmar International spoke on "The situation and development prospects of oils and oilseeds industry" whereas Qiao Yanrui, technical director of Zheng Bang Group addressed the issue of "Feed demand in China market and its impact on grain feed".
Other topics covered in the three-day conference included logistic issues and food security.
The picture painted was that of a vast market undergoing transitions that would shake the world as much as China's move to soy net importer status did over the previous two decades. It raised awareness of the situation's gravity and raised as many questions as it answered. The issues raised by this year's conundrums can only be answered in future editions of this event.
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