Despite a record harvest, China will continue to purchase imported corn

Published 2024년 4월 8일

Tridge summary

Despite the Chinese government's efforts to decrease the area of corn cultivation, the Ministry of Agriculture predicts a record corn harvest of 296 million tons in 2024, a 2.4% increase from the previous year, marking the fourth consecutive year of record production. However, the impact of this bumper crop on China's corn imports is uncertain. This is because domestic corn prices remain significantly higher than those on the global market, which may lead Chinese buyers to continue importing corn, despite the ample domestic supply.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Domestic corn prices in China are significantly higher than world prices Despite the efforts of the Chinese government to reduce the area under corn, the country's Ministry of Agriculture expects the corn harvest in 2024 to reach a record 296 million tons (+2.4% per year). If this forecast comes true, grain production in China will be a record for the fourth year in a row, reports Reuters. However, it is not yet clear whether a further increase in domestic production will lead to a significant reduction in its imports into the ...
Source: Zol

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