November 12, 2008

China has exported 30,000 tonnes of corn to Taiwan in October, after zero shipment in September, according to traders.

Taiwan has failed to implement contracts signed earlier this year with Chinese exporters after US corn prices became more competitive than Chinese corn.

Some contracts were not implemented on time after the fall of US corn prices, but there would still be some corn to be shipped to Taiwan in coming months, said a trader.

In early 2008, China has signed to export 200,000 tonnes of corn to Taiwan at a price of US$350-400 per tonne, including cost and freight, when US corn prices hit a record high.