October 3, 2005

China might import corn within five years
 

According to China's largest feed producer New Hope Group (NHG), the country might import corn within five years.

NHG recently met with the US Grains Council (USGC) and American agribusiness representatives, to discuss the company's plans along with the possibility for US agriculture to play a part in them.

NHG said China's demand for meat has been rising along with a greater need for animal feed. While the trend was gradual, the company expected it to continue over the next five to ten years. Although Chinese consumers currently purchased corn domestically, NHG expected foreign corn to help meet the country's feed needs within the next few years.

NHG added that each year, about 100 million Chinese farmers leave the countryside for urban jobs, while those remaining in rural areas were gradually becoming more industrialised to meet rising domestic meat demand.

The USGC said it was impressed by NHG¡¯s agricultural stake in China, and that the company was exploring its business options in the pork industry beyond their existing roles of supplying feed and limited hog processing.