January 15, 2007

 

China's maize production to rise 2.1 percent in 2007

 

 

China's maize output could increase by 3 million tonnes in 2007, up 2.1 percent year on year according to the market monitoring division of the State Cereals and Oil Information Centre.

 

Based on this, experts predict that the supply and demand on China's maize market would be basically balanced, and the price would be stable as a whole in 2007.

 

As maize deep processing industry grew rapidly, maize price soared in 2006. Prices grew 25 percent by late December from October according to estimates.

 

Based on market figures, China's maize output was 130 million tonnes in 2004-05 with consumption being 128 million tonnes in the same period, leaving a surplus of 2 million tonnes. It went up to 139 million tonnes in 2005-06 with consumption reaching 137 million tonnes, leaving a surplus of 1.5 million tonnes.

 

The demand growth was 4.9 percent and 7 percent respectively.

 

Based on the average 6-percent annual growth, China's maize consumption in 2006-07 might increase by 8.22 million tonnes to 145 million tonnes.

 

Maize sowing area might reach 27.35 million hectares in 2007 and output could top 145 million tonnes, up 2.1 percent from the 142 million tonnes in 2006, according to agency estimates.

 

Besides, China's rapeseed sowing area would grow 4.6 percent in 2007 and rapeseed output would touch 12.7 million tonnes, up 4.1 percent year on year.

 

The agency estimates China's wheat sowing area in 2007 to fall by 470,000 hectares as compared to last year due to drought in north China,.

 

Soybean sowing area would drop by 200,000 hectares from the 9.1 million hectares in the previous year while soybean output is expected to be 15.6 million tonnes in 2007.

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