February 23, 2012

For this year, Argentina may export about three million tonnes of corn to China as a result of an agreement last week in Buenos Aires at the Ministry of Agriculture.

"This agreement will make China a significant importer in the coming years, China is expected to import about three million tonnes of corn," said a ministry statement.

According to iEco, the agreement for exporting corn from Argentina to China was signed by Minister of Agriculture Norberto Yauhar and Minister of General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) of China, Zhi Shuping.

The statement from the ministry said China was self-sufficient until 2010, but due to increased consumption of pork and poultry, domestic demand for corn for animal feed had also increased.

The deal comes weeks before the Argentine farmers start harvesting the corn which, although it was affected by drought, is expected to generate an output of at least 22 million tonnes.

Argentina is the second largest exporter of corn and the leading international oil and soybean meal exporter.