China's
corn import volume increased hugely in the past years, but the uptrend stopped
in H1 2013. According to the data from China Customs, China imported 1.52
million tonnes of corn in H1 2013, down 36.73% year on year. The import volume
of corn from other regions (not include new sources) except for the Russian
Federation all witnessed a decrease in H1 2013, compared with that in H1 2012.
The
import volume of corn from the US, the largest source of China's corn import,
was 1.51 million tonnes in H1 2013, down 36.28% year on year.
At present, China's corn import is extremely
dependent on the US. In 2012 and 2013, the import volume of corn from the US
accounted for over 98% of the total corn import volume in China. To change this
situation, China is trying to import more corn from other countries.
In
H1 2013, China imported corn from four new sources, namely India, Brazil,
Ukraine and Chile. Besides, it is reported that China has recently imported 60,000
tonnes of corn from Argentina. It's the first time for China to import such a
large amount of corn from Argentina (please refer to COFCO to import 60,000
tonnes of corn from Argentina in 2013 in Corn Products China News 1306 for more
details). It is estimated that the import volume of corn from other countries
(excluding the US) will increase quickly in the future.
The huge decrease of China's corn import
volume was mainly attributed to two reasons. Firstly, there was an abundant
supply of corn in the domestic market, as there was a record corn harvest in
China in 2012. Secondly, the demand for corn was weak in H1 2013. The corn
demand from the feed industry was impacted by the H7N9 in this period, and the
corn deep-processing industry was also depressed during this period, which
further impacted the demand for corn.
However,
China's corn import volume still has the chance to exceed the one in 2012. It's
expected that there will be a bumper corn harvest in the US in this season,
which may bring down its corn price. In contrast, Chinese government will
continue to increase the purchase prices of corn in 2013/2014, which will make
the US corn more competitive.
Compared with the corn import volume, China's
corn export volume has been very small in recent years. In H1 2013, China
exported 17,645 tonnes of corn, down 41.80% year on year. Like that in 2012,
the corn was exported to North Korea.
Furfural
in short supply recently
China's
corn import volume declines sharply in H1 2013
Chinese
corn products Imp. & Exp. analysis in June 2013
Export
business can not help solve oversupply of China's corn starch
Price
update of corn products in Aug. 2013
Ex-works
price of MSG enjoys an uptrend recently
Ex-works
price of starch sugar experiences downtrend in H1 2013
Fufeng
Group satisfied with the result of xanthan gum anti-dumping investigations
Changshouhua
Food's net profit to increase by 35%-40% in H1 2013
North
China Pharmaceutical to issue 250 million shares non-publicly
Resurgence
of H7N9 may cause decrease in demand for feed
Opinion
solicitation for Approved Feed Additives (2013) conducted
MOF
adjusts the dumping margins of the imported nucleotide food additives
Corn Products China News, a monthly publication
issued by CCM on 20th, features “Supply and Demand”, “Import and
Export Analysis”, “Price Update”, “Market & Company Dynamics”, “Policy”, “Corn
Supply” and other more information researched and reported by CCM’s professional
journalists. It is a reliable intermediate for you to know more about the corn
industry in China
CCM is dedicated to market research in China
Guangzhou CCM Information Science & Technology Co., Ltd.
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