China Books 1 Million Tons of Corn Imports


China, the world’s second biggest corn consumer, has booked almost 1 million metric tons of corn imports from the U.S. and will probably buy more, according to the U.S. Grains Council.

The U.S. can double or triple sales to China, as the nation seeks to complement domestic supply and satisfy expanding demand, said Alvaro Cordero, manager of international operations- marketing at the Grains Council.

China purchased about 600,000 tons of U.S. corn in the past month, according to the Agriculture Department. It is securing imports and selling from state inventories to cool domestic prices that have rallied 11 percent in the past six months to near record levels. A reduced crop last year and planting delays have increased speculation of a supply shortage.

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One response to this post.

  1. […] Grains Council reported earlier in May that China had booked over 1 million tons of corn imports this year. The recent news of planting and storage trouble within the county will only help to […]

    Reply

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