June 12, 2009
China's COFCO has 200,000 tonnes of corn export quota to Taiwan
China National Oils, Foodstuffs and Cereals Corp (COFCO), the country's largest food importer and exporter, said on Thursday (Jun 11) it has 200,000 tonnes of quotas to export corn to Taiwan this year.
The price and demand in Taiwan would determine whether the company decides to exceed or go below this quota, according to COFCO's Vice President Xue Guoping, who was in Taiwan for a business event.
Traders said COFCO might not be able to expend all the quotas as prices of Chinese corn are higher than those of other origins.
Xue said COFCO had 160,000 tonnes of corn export quotas to Taiwan last year. Meanwhile, customs data showed that China exported 137,747 tonnes of corn to the island in 2008.
