September 21, 2011

China will likely import around six million tonnes of corn from the US in 2011-12, a US analyst said.

China's corn imports from the US were close to one million tonnes in 2010-11 and will likely jump sharply in the year that began September 1 this year despite a rise in local output, said Washington-based commodities consultant and analyst John C. Baize.

Among the reasons cited by Baize included China's state reserves need to be replenished, local prices are high and domestic consumption is rising.

US exporters have already sold a couple of million tonnes for shipment to China over the next several months, he added.

Separately, a Louisiana-based exporter said his company is loading a corn cargo for China and another is in the pipeline.

The USDA has forecast that China's corn consumption in 2011-12 will exceed output by 4.5 million tonnes.