December 11, 2008

China official denies corn export quota arrangement

China has no plan to issue corn export quota so far, a senior official said Wednesday (December 10), despite a surplus of the grain in the domestic market.

"We haven't received any information about arranging large amounts of corn export (quotas) now," said an official who has direct knowledge of the corn export quota issue, but who declined to be named.

Falling domestic corn prices have given rise to rumours in the market that the government may issue export quotas for either 3 million or 5 million tonnes of corn to relieve supply pressure on the domestic market.

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