October 9, 2007

Taiwan temporarily allows feed corn imports from China

Taiwan's government said late Monday (Oct 8) that it will temporarily allow feed corn imports from China to help stabilise local prices.

The lifting of the ban is effective Oct. 1 until March 31, 2008, according to a statement published on the Ministry of Economic Affairs' Web site.

Taiwan's consumer price index rose 3.08 percent on-year in September, driven higher by natural disasters and rising prices of commodities including corn, soy and wheat, said the ministry.

But the move is unlikely to have any impact on Taiwan's corn market, as China does not have much corn to export due to the government's concern over tight supply.

Taiwan has traditionally controlled grain imports from China to protect its local agricultural industry.