September 17, 2010

China is becoming net importer of corn

China will turn from a net exporter of corn to a net importer of the crop this year, said Cofco assistant general manager Fei Zhonghai.

The country imported 600,000 tonnes of corn in January to August, and the ports are expected to see arrivals of 700,000 tonnes more, he said.

The annual imports may come to 1.5 million tonnes in 2010, far higher than the country's exports, making China a net importer of corn, he added.

An earlier report by the Ministry of Agriculture shows China exported 93,000 tonnes of corn in January to July, up 30.7%. It imported 282,000 tonnes of corn, a 56-fold surge.