September 15, 2011


China's weekly corn prices on the rise


Corn prices in major producing areas of China lifted in the week to Wednesday (Sep 14) with supply remaining tight ahead of the coming harvest next month.


Prices in Changchun in Jilin province rose to around RMB2,400 (US$376)/tonne from RMB2,300 (US$360)/tonne a week earlier.


In Shandong province, where the corn processing industry has a strong presence, prices were around RMB2,540 (US$397)/tonne, mostly flat from a week ago.


China is expected to see a record corn harvest this year, said Xu Xiaoqing, director of the department for rural economic development of the State Council's Development Research Centre.


Rising demand may outpace the increase in corn output, which means imports are set to rise, he added.

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