China diversifies corn supply due to growing demand
Maize (Corn)
China
Market & Price Trends
Published Mar 28, 2024
Tridge summary
China is diversifying its corn import sources by adding Argentina to its list of approved suppliers, alongside Russia and Ukraine. This strategic move aims to secure a stable and cost-effective corn supply as China's feed grain consumption is expected to reach a record high in the 2023-24 period, increasing by 5 million tonnes. The decision comes at a time when Brazil might see a decrease in its Safrinha corn plantings, highlighting Argentina's competitive pricing and potential to fulfill China's escalating demand.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
China has sought to diversify its corn supply sources since the beginning of Russia's attack on Ukraine. Argentina is the latest addition to China's list of approved suppliers, as Brazil anticipates a potential reduction in Safrinha corn plantings. Anamaria Martins, a senior analyst at S&P Global, notes that China is always looking for the most cost-effective options and is likely to choose Argentina if it offers ...
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