China is expected to import less maize in 2021-2022

BEIJING, CHINA – China’s demand for corn imports in MY 2021-22 is expected to moderate as the country’s feed sector sources cheaper alternative grains and feed consumption animal feed is increasing at a slower rate, according to a report by the Global Agricultural Information Network of the Foreign Agricultural Service. from the United States Department of Agriculture (USDA).

After importing a record 30 million tonnes of corn in 2020-2021, China is expected to absorb 20 million tonnes this year, around 6 million tonnes less than a previous projection, USDA projections show .

In terms of production, China is expected to harvest 272 million tonnes of maize in 2021-2022, around 1 million tonnes less than the previous projection, as losses caused by natural disasters in the northern plain of China in July were not fully offset by better returns. in northeast China, according to the USDA.

The agency noted that if the price gap between corn and wheat narrows further – in early October, wheat was about $ 30 a tonne cheaper than corn – feed mills are expected to increase corn use, as corn was the preferred food ingredient.

China was by far the largest importer of corn in 2020-21, nearly doubling the consumption of second-ranked Mexico by 16.5 million tonnes. China’s 30 million tonnes of corn imports were four times its total for 2019-2020 and more than 10 times the amount of its imports in 2016-2017.

Source link

More Stories
US records show Iranian oil cargo landed a month after the ship was seized