September 24, 2020


China projects bumper grain harvest in coming weeks


Han Changfu, China's Minister of Agriculture and Rural Affairs, said the country expects a bumper grain harvest in the coming weeks thanks to optimal growing conditions and boosted planted acreage, Reuters reported.


His comments come as there have been concerns over the recent typhoons affecting corn output in the country, which is currently in tight supply.


Analysts said China's corn crop is projected to drop by up to 10 million tonnes of 4%, following the latest estimates from the government after storms hit the country's northeastern corn belt.


Projected output losses have increased China's corn futures to a record high, raising concerns over corn supply shortages in the second biggest consumer of corn in the world.


Han said overall planted acreage of autumn grain is 8% up this year, but did not indicate what crops exactly.


The autumn's harvest include corn, soybeans and rice.


Han said the consecutive typhoons have affected mature crops, resulting in minimal impact to output. He adds that this only adds to the difficulty and cost of harvesting.


-      Reuters