March 8, 2007
China's CNGOIC adjusts 2007 grains acreage and output forecasts
China National Grain and Oils Information Centre (CNGOIC) raised its 2007 acreage forecast for corn but cut its outlook for soybeans.
In its monthly report, the government think-tank raised its corn acreage forecast for this year by 50,000 hectares but lowered its estimate of soybean-planting areas by 100,000 hectares.
This is because farmers are expected to switch to corn due to the grain's high prices.
It also raised its forecast for corn output for this year by 1 million tonnes to 146 million tonnes and lowered soybean output by 200,000 tonnes to 15.4 million tonnes.
In its report, CNGOIC adjusted its grains output and planting acreage estimates for 2006 as well.
The CNGOIC is affiliated with the State Grain Administration, responsible for providing cereals market information for China's policy makers.
(The following tables are taken from CNGOIC's March report)
|
Crop |
2006 Output |
Change on-year (percent) |
2006 Area |
Change on-year (percent) |
|
(million tonnes) |
(million hectares) | |||
|
Soybeans |
15.5 |
-5.2 |
9.1 |
-5.1 |
|
Corn |
144 |
3.3 |
27.12 |
2.9 |
|
Wheat |
103.84 |
6.6 |
23.45 |
2.9 |
|
Rapeseed |
12.7 |
-6.5 |
6.74 |
-6.9 |
|
Rice |
180.8 |
0.1 |
29.1 |
0.9 |
|
Crop |
2007 Output |
Change on-year (percent) |
2007 Area |
Change on-year (percent) |
|
(million tonnes) |
(million hectares) | |||
|
Soybeans |
15.4 |
-0.7 |
8.8 |
-3.3 |
|
Corn |
146 |
1.4 |
27.4 |
1 |
|
Wheat |
99.5 |
-4.2 |
22.8 |
-2.8 |
|
Rapeseed |
12.35 |
-2.8 |
6.8 |
-2.9 |
|
Rice |
186.8 |
3.3 |
29.3 |
0.7 |
