Interpretation of China's 2014 No.1 Central Document about policies of corn & related products

On 19 Jan., 2014, the Central Committee of the Communist Party of China and the State Council jointly published a policy on deepening the rural reform and accelerating the agricultural modernization (China's No.1 Central Document, focusing on the development of agriculture, rural areas and farmers to push forward agricultural modernization), which proposes that the government will continue to carry out the policies about temporary reserve of corn and sugar, and  minimum purchasing price of wheat, explore price insurance pilot of live pigs and launch price subsidy pilot of soybean.

Governmental purchase of corn for temporary reserve

The government strengthened the protection in 2013. Firstly, the government extended the 2012/2013 corn purchase deadline by one month. Secondly, the government published the 2013/2014 purchasing price of corn in advance and increased the purchasing price. These policies can protect the corn price from decreasing in China. For example, domestic market price of corn decreased in Oct. 2013 due to the increasing supply of corn, but the price of corn rebounded a little during Nov.- early Dec. 2013 as the governmental purchase of corn started in Nov. 2013.

Insiders think that the corn purchasing policy is of great importance to stabilize and even increase corn price in 2014 in case of its oversupply. It's reported that during 2013/2014, the supply of corn may be around 205.7 million tonnes while the demand for corn may be only around 187.7 million tonnes in China.

Governmental purchase of sugar for temporary reserve

Domestic sugar market underwent a downturn in 2013. The total output of sugar in China was 3.0 million tonnes while the sales volume of sugar was only 1.6 million tonnes. Due to the oversupply, domestic average market price of white sugar, a main kind of sugar, dropped by around 14% year on year in 2013. Its price continued decreasing in Jan. 2014, close to the production cost level.

The slumping sugar market dragged down the price of its substitute, starch sugar in 2013. In detail, domestic average ex-works price of high fructose corn syrup (F42) declined by 12.5% year on year in 2013.

Domestic sugar market still will face challenges in 2014, since it is difficult to mitigate the overcapacity of sugar at home and abroad. Additionally, domestic sugar will has less cost support as the minimum purchasing price of its raw material-sugarcane in main sugarcane planting regions in 2013/2014 is lower than that in 2012/2013.

Overall, insiders said that the governmental purchase of sugar for temporary reserve is necessary in China as it can help protect sugar manufacturers' profits and boost the sugar market.

Minimum purchasing price of wheat

It is estimated that the role of policy will weaken in wheat market in 2014 because wheat price in China has been much higher at present compared with that in 2013. According to data from CCM, domestic market price of wheat soared to around USD425/t on 16 Jan., 2014, about USD32/t higher than that on 16 Jan., 2013. Besides, the governmental storage of wheat decreased in 2013 as the consumption of wheat increased greatly in feed industry in 2012, leading to the tight supply of wheat since then. So the wheat price in 2014 mainly depends on its supply and demand.

However, the increasing wheat price will cause wheat replaced by corn in feed production.

Exploration of live pigs' price insurance pilot

Domestic average market price of live pigs decreased slightly by 2% year on year in 2013, and the market price of live pigs fell sharply from USD2,403/t on 3 Jan., 2014 to USD2,061/t on 20 Jan., 2014 due to the oversupply of live pigs. The substantial decreasing price of live pigs resulted in losses for domestic pig breeding farmers or enterprises.

Once the price insurance policy can be implemented in the near future, domestic pig breeding farmers or enterprises can obtain some extra compensation from the government when the price of live pigs decreases, which can make up somehow for the losses, reduce their breeding risk and maintain a stable cash flow.

Generally, a stable development of pig industry can ensure a strong demand for feed and feed additives, such as amino acid and vitamin.

Launch of price subsidy pilot of soybean

In fact, it is the first time for China to implement the price subsidy pilot policy of soybean. China carried out the temporary purchase of soybean for reserve during 2008-2013, and the governmental purchasing price of soybean kept increasing in this period. As a result, domestic price of this product was much higher than that of the imported one. So domestic soybean processing enterprises turned to the cheap imported soybean. As data from China Customs shows, China imported around 63.4 million tonnes of soybean in 2013, up 8.6% year on year.

Insiders said that the policy can weaken the dependence on imports for soybean and encourage domestic farmers to plant soybean.

Source: Corn Products China News issued by CCM in Feburary.

Table of Contents of Corn Products China News 1402:

China returns 2,000 tonnes of GM DDGS to the US

Chinese corn products Imp. & Exp., Nov. 2013

Export volume of China's furfural rebounds, Oct.-Nov. 2013

Price update of corn products, Jan. 2014

Review of the ex-works price of corn germ meal, H2 2013

Ex-works price of xanthan gum decreases sharply in 2013

Guangji Pharmaceutical suspends partial VB2 production line

Shandong Longlive opens online flagship shop at Tmall

Frequent outbreaks of avian influenza challenges poultry industry again

Edible ethanol industry undergoes downturn in 2013

Market price of wheat in China enjoys marked uptrend, June-Nov. 2013

Corn Products China News, a monthly publication issued by CCM on 20^th, 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 even in the globe.

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CCM is dedicated to market research in China, Asia-Pacific Rim and global market. With a staff of more than 150 dedicated highly-educated professionals, CCM offers Market Data, Analysis, Reports, Newsletters, Buyer-Trader Information, Import/Export Analysis, and Consultancy Service. 

For more information, please visit http://www.cnchemicals.com.

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China to import large quantity of GM corn from Brazil

In Sept. 2013, the total import value of corn products in China witnessed a MoM decrease of 41% while the total export value increased sharply by 171% MoM.

              

According to China Customs, in the first nine months of 2013, China's furfural export value was just USD17.0 million, down 47.4% year on year, due to decreases in both the export volume and the export price of the product in this period.

The ex-works price of MSG in China has witnessed a downtrend since Sept. 2013, due to oversupply, weak demand and insufficient cost support.

According to data from CCM, the ex-works price of DDGS in China declined remarkably in Oct. 2013, mainly due to the decreasing demand from downstream industries and the increasing supply of DDGS.

On Oct. 11, 2013, Baolingbao announced that the company had obtained a new patent——a preparation method for the co-production of high purity IMO and alcohol, with a 20-year validity period.For every tonne of IMO produced by this technology, the total production cost will be reduced by 10%.

Recently, Longlive Bio-technology has been committed to developing cellulosic ethanol. On Nov. 13, 2013, the company's project on processing 200,000t/a of straw was approved to be established in Dezhou, Shandong Province, which is mainly to produce cellulosic ethanol with a capacity of 30,000t/a. As early as Oct. 2013, the company decided to build a subsidiary in Denmark to improve its R&D of cellulosic ethanol.

On Oct. 24, 2013, the US Department of Commerce (USDC) announced that it would start anti-dumping and countervailing duty investigations on MSG from China and Indonesia, aiming to define whether these products have threatened the MSG industry in the US.

The domestic market price of corn oil remained low during Aug.-Oct., 2013, and is estimated to continue its decline in the near future.    

According to CCM's data, the domestic market price of furfural has enjoyed an uptrend during Aug.-Oct. 2013, mainly due to tight supply, increasing demand and increasing costs.    

The People's Government of Jilin Province decided to start in advance the government's corn purchase for temporary reserve in Songyuan City, Jilin Province from Nov. 8, 2013, which prevented the market price of corn in Songyuan from decreasing.    

China's total import quota for sucrose will remain 1.945 million tonnes in 2014. However, it remains unknown whether the sucrose import volume continues to be large in 2014 as in the current year.

Source: Corn Products China News issued by CCM in November.

Table of Contents of Corn Products China News 1311:

China to import large quantity of GM corn from Brazil

Chinese corn products Imp. & Exp., Sept. 2013

China's furfural export value declines by 47.4% YoY, Jan.-Sept. 2013

Ex-works price of MSG witnesses a downtrend since Sept. 2013

Ex-works price of DDGS declines recently

Baolingbao obtains new patent for IMO production, Oct. 2013

Longlive Bio-technology commits to developing cellulosic ethanol

USDC's anti-dumping and countervailing duty investigations on MSG native to China and Indonesia

Market price of corn oil maintains at a low level, Aug.-Oct. 2013

Market price of furfural enjoys uptrend, Aug.-Oct. 2013

Government purchase of corn for temporary reserve starts in Jilin Province in advance

China's import quota for sucrose remains 1.945 million tonnes in 2014

About CCM

CCM is dedicated to market research in China, Asia-Pacific Rim and global market. With a staff of more than 150 dedicated highly-educated professionals, CCM offers Market Data, Analysis, Reports, Newsletters, Buyer-Trader Information, Import/Export Analysis, and Consultancy Service. 

For more information, please visit http://www.cnchemicals.com.

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Find Hot News in Corn Products China News 1212

Published on the 20^th every month, Corn Products China News is a monthly publication released by CCM. It offers timely update and close follow up of China’s various kind of corn market dynamics, analyze the market data and trends. Major columns include the latest information on new price fluctuation, new market trends and intelligence, new legislations and policies, new technologies, new area dynamics and new corn supply that are shaping the market.

Following are headline news of the latest issue of Corn Products China News:

Market price of MSG stops downtrend in Dec. 2012

The market price of MSG in China stops declining in early Dec. 2012 due to its increasing cost from corn and declining supply.

Domestic market price of corn starch turns from downtrend to slight uptrend in Dec. 2012

Domestic market price of corn starch turns from downtrend to slight uptrend in Dec. 2012 due to growing demand and cost.

Baolingbao shows application solutions for its functional sugars

Baolingbao shows some application solutions for its functional sugars in downstream industries, which may increase demand for these products in the future.

Changshouhua Food makes new progress in corn oil

Some researches help Changshouhua Food make great progress in corn oil, producing corn oil with higher quality and less cost and developing a new product.

Three research projects of Longlive Bio-technology pass assessment

Three researches of Longlive Bio-technology are assessed to have reached internationally advanced level, which can help the company earn more profits in the future.

Domestic VC and VB2 perform badly in 2012

Domestic VC and VB2 post depressed performance in 2012 and it is hard for them to get rid of the tough situation in H1 2013.

Corn-based ethanol performs poorly in China in 2012

Corn-based ethanol in China performs poorly in 2012 due to the depression of its two main products, corn-based edible ethanol and corn-based fuel ethanol.

Government launches 2012 temporary reserve of corn

On Nov. 15, 2012, Chinese government launches 2012 temporary reserve of corn to prevent its market price from decreasing sharply and protect the interests of farmers.

Substitution of wheat for corn declines in Q4 2012

Owing to the decreasing market price of corn and increasing market price of wheat in Q4 over Q3 2012, the substitution of wheat for corn as feed declines.  

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Baolingbao approved to produce and sell IMO as new feed additive

On Aug. 27, 2012, Baolingbao Biology Co., Ltd. (Baolingbao) announced that its isomaltooligosaccharide (IMO) had been approved by the Ministry of Agriculture (MOA) to be produced, sold and used as a new feed additive in China, bringing a new profit source to Baolingbao, according to CCM’s  September issue of Corn Products China News.

Baolingbao plans to make some changes in its 50,000t/a food grade IMO production line to produce feed grade IMO as the production line's capacity is not fully utilized and shares a lot in production process with feed grade IMO, revealed Miss Lv from Baolingbao's Bond Department. In addition, according to Miss Lv, the company is undergoing procedures for a production license for the product, which is estimated to be put into market in Nov. 2012. 

IMO is promising as feed additive because it is a good substitute for antibiotics and Chinese government is phasing out the use of antibiotics species applied in feed. IMO has functions on animals such as accelerating the propagation of beneficial bacteria and inhibiting the growth of noxious bacteria in intestinal tract, speeding the digestion of nutrition and improving immunity. 

Baolingbao will get benefit from feed grade IMO thanks to not only its large potential market but also some policy preferences.

 

According to MOA, Baolingbao's feed grade IMO can be only applied in compound feed of egg-laying hens and the application scope of the product is 0.2%-0.4%. Since domestic output of compound feed of egg-laying fowl, among which egg-laying hens part take up the most part, is quite huge–25.2 million tonnes in 2011 according to China Feed Industry Association, the demand for feed grade IMO is quite charming. 

 

As to policy preferences, Baolingbao is protected as the unique feed grade IMO producer in the monitoring period years, because other enterprises are not allowed to produce or import feed grade IMO during the period according to Administrative Regulations on Feed and Feed Additive implemented on May 1, 2012. Additionally, feed grade IMO is exempted from value added tax during the monitoring period, said Miss Lv.

 

Overall, Baolingbao estimated that feed grade IMO would bring the company about USD0.88 million-USD1.75 million (10%-20% of the total net profit of Baolingbao in 2011) newly added net profit in 2013. 

Actually, Baolingbao wants to profit more with feed grade IMO. "We want to utilize the fiber part, protein part and corn embryo of the side product of starch sugar to produce feed, then mix it with feed grade IMO to produce oligosaccharide feed." said Miss. Lv. On Aug. 16, Baolingbao announced that one of its researches, Producing Oligosaccharide Feed with Side Products of Starch Sugar, successfully passed assessment. And Baolingbao is talking about cooperation with a domestic feed producer. If Baolingbao can successfully produce oligosaccharide feed, it will probably get more profit.

Source: Corn Product China News 1209

http://www.cnchemicals.com/Newsletter/NewsletterDetail_6.html

Main content of Corn Product China News 1209:

China's import volume of DDGS surges by 163.5% in July 2012

Chinese corn products Imp. & Exp. analysis in July 2012

Domestic market price of corn starch enjoys uptrend in Aug.-Sept. 2012

Market prices of corn products as feed enjoy uptrend in China in Aug.-Sept. 2012

Changshouhua Food presents good performance in H1 2012

Baolingbao approved to produce and sell IMO as new feed additive

Longlive Bio-technology may perform better in H2 2012 against slightly poor performance in H1 2012

Chinese VC posts bad performance in H1 2012

China's MSG price declines under increasing cost and demand in H1 2012

12th Five-Year Plan for Renewable Energy supports the development of cellulose fuel ethanol

Domestic corn suffers armyworm and typhoon disasters in Aug. 2012

China's import volume of cassava starch up 13.0% in the first seven months of 2012

… …

Corn Products China News, a monthly publication issued by CCM International on 20^th of every month, reveals the driving force of news stories and deeply analyzes the influence of trends and dynamics on domestic and international corn deep processing industry.

For more information about Corn Product China News, please contact us at econtact@cnchemicals.com.

About CCM

CCM is dedicated to market research in China, Asia-Pacific Rim and global market. With a staff of more than 150 dedicated highly-educated professionals. CCM offers Market Data, Analysis, Reports, Newsletters, Buyer-Trader Information, Import/Export Analysis all through its new proprietary product ValoTracer.

For more information, please visit http://www.cnchemicals.com.

CCM International Ltd.
Guangzhou CCM Information Science & Technology Co., Ltd.
17th Floor, Huihua Commercial & Trade Mansion, No.80 Xianlie Zhong Road, Guangzhou 510070, China

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Source: http://www.cnchemicals.com/PressRoom/PressRoomDetail_w_1221.html

Domestic MSG Industry Suffers A Lower Profit Level in 2011

Based on the 2011 annual report of Meihua Holdings Group Co., Ltd. (Meihua Group) and the Announcement of Annual Results for the Year Ended 31 Dec. 2011 of Fufeng Group Limited (Fufeng Group), top 2 monosodium glutamate (MSG) producers in China, as well as CCM International's latest report, Production and Market of Monosodium Glutamate (MSG) in China, published in Feb. 2012, it's found that China's MSG industry suffered a lower profit level in 2011 than 2010, majorly due to the significant increase in raw material cost, according to CCM International’s April issue of Corn Products China News.

In fact, the gross margins of Meihua Group and Fufeng Group both saw a decrease in 2011 over those in 2010, majorly caused by the poor performance of their MSG businesses. Specifically, the gross margin of Meihua Group's MSG and GA (glutamic acid) business declined to 22.8% in 2011 from 32.9% in 2010. And that of Fufeng Group's MSG segment including products of MSG, GA, fertilizers, threonine, corn oil, branched-chain amino acid, chicken powder, starch sweeteners, etc, also declined to 16.1% in 2011 from 22.7% in 2010. (TABLE) 

As a matter of fact, the larger increase scale of raw material cost than that of MSG price is the key factor for MSG's lower profit level in 2011. In line with Fufeng Group, its average sales price of MSG only rose by 1% to USD1,250/t in 2011 over that in 2010 (FIGURE), while the average market price of MSG's key raw material, corn starch, grew by 16.5% to USD494/t in 2011 according to CCM International, resulting in the profit decline in its MSG business.

 

But actually, MSG's demand in 2011 performed well in accordance with CCM International's MSG report: its domestic apparent consumption volume enjoyed a 4.3% increase to over 2 million tonnes compared with that in 2010. In the mean time, its export volume also saw a 40.0% increase to about 290,000 tonnes. So it's believed that there were other reasons to explain the small increase scale of MSG price, such as Fufeng Group's low price strategy.

 

In accordance with Fufeng Group's claim, it intentionally adopted low price strategy in 2011, in order to accelerate the elimination of small and inferior MSG producers in order to further increase industry concentration and Fufeng Group's market share in the industry. As Fufeng Group is the largest MSG producer in China, together with its 30% market share in domestic MSG industry in 2011 as it claimed, Fufeng Group's low sales price restrained the overall average market price of MSG to head up. Therefore, small producers without cost advantage were driven to suspend or even stop production for the low profit. And in fact, through this low price strategy, MSG's sales volume in Fufeng Group enjoyed a 25% increase in 2011, amounting to 615,630 tonnes compared with that in 2010.

Fufeng Group believes that the company will enjoy absolute competitive advantages and maintain its leadership in domestic MSG market in the future, because the company's annual MSG production capacity will increase to 1 million t/a by Q2 2012. And the company plans to keep adopting the low price strategy in 2012, trying to further increase the company's market share. 

All in all, it's believed that MSG's industry concentration will keep increasing, with market share focused in several leading producers, like Meihua Group and Fufeng Group. By then, MSG's profit will increase to a reasonable level and become relatively stable. Besides, governmental restriction can facilitate the progress. In view of MSG's high pollution and overcapacity situation, Chinese government has encouraged to increase the product's industry concentration through eliminating inferior capacity in 2010 and 2011. Actually, in 2010, about 234,000t/a of MSG capacity was eliminated by government, accounting for 8.2% of the total capacity all over the country. Moreover, according to the 2011 edition of Guideline Catalogue for Industrial Restructuring (the Guideline) published in April 2011 by the National Development and Reform Commission, MSG industry will maintain being restrained from 2011 to 2015.

Source: Corn Product China News 1204

http://www.cnchemicals.com/Newsletter/NewsletterDetail_6.html

Content of Corn Products China News 1204:

VC’s output in China rises by 7% in 2011

Domestic output of L-arginine increases 34.8% in 2011

Chinese corn products Imp. & Exp. analysis in February 2012

Domestic citric acid price witnesses stability in April 2012

Domestic MSG industry suffers lower profit level in 2011

Analysis into starch sugar business of Xiwang Sugar and Global Sweeteners in 2011

Global Sweeteners will wholly own HFCS joint venture

Lysine contributes most to Global Bio-chem’s good performance in 2011

Corn starch in China performs slightly poorly in 2011

Tongchuang Biotechnology to increase its 70% syrup sorbitol capacity to 200,000t/a in 2012

Cassava starch's import volume increases by 18.1% in 2011

Domestic corn price's growth rate slows down in April 2012

Corn Products China News, a monthly publication issued by CCM International on 20^th of every month, reveals the driving force of news stories and deeply analyzes the influence of trends and dynamics on domestic and international corn deep processing industry.

About CCM International

CCM International is dedicated to market research in China, Asia-Pacific Rim and global market. With a staff of more than 150 dedicated highly-educated professionals. CCM International offers Market Data, Analysis, Reports, Newsletters, Buyer-Trader Information, Import/Export Analysis all through its new proprietary product ValoTracer. For more information, please visit http://www.cnchemicals.com.

CCM International Ltd.
Guangzhou CCM Information Science & Technology Co., Ltd.
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Tel: 86-20-37616606

Email: econtact@cnchemicals.com

Source: http://www.cnchemicals.com/PressRoom/PressRoomDetail_w_1043.html

Standard for Mixed Food Additives to be Implemented in Sep 2011

August 22, 2011, CCM - In July 2011, the Ministry of Health of the People's Republic of China published the first national standard for mixed food additives—National Food Safety Standard: General Rules on Mixed Food Additives (the General Rules), which will take effect on 5 Sept. 2011 as planned. The standard is believed to bring much positive effects on the mixed food additive industry and help it develop healthily and rapidly in the future, according to CCM’s August issue of Corn Products China News.

Against the backdrop of the 2008 melamine scandal and many food incidents happened since then, Chinese government strengthens its supervision of the food industry over the past two years. And food additives have become the focus of the government's attention in 2011—it has launched several relevant policies and standards, such as the new Standards for uses of Food Additives issued on 20 April 2011, particularly prompted by recent food incidents such as "lean meat essence" scare in March 2011 (centred on pork products tainted with ractopamine and clenbuterol, denoted by the Chinese nickname "lean meat essence" or shou rou jing, with which if pigs are fed, they can be prevented to accumulate fat). Now the General Rules are the second step for the government to further strengthen regulation in food industry.

The highlights of the General Rules are as follows. Firstly, it sets some basic requirements for mixed food additives: mixed food additives shall not be harmful to human health; shall be in accordance with the new Standards for uses of Food Additives issued in April 2011; shall not contain any chemical reaction in production or produce new chemical compound, whilst the amount used shall be kept as low as possible. Besides, mixed food additives processors shall establish management system for mixed food additives' production and clearly stipulate the content and detection methods of every food additive.

Secondly, the General Rules stipulates the maximum quantity of hazardous substances in accordance with weighted data result and pathogenic micro organisms in mixed food additives. But only two kinds of hazardous substances' maximum quantity is detailed—lead and arsenic—both at 2.0 mg/kg when the weighted data result is not applicable. As for pathogenic micro organisms, they shall not be detected to exist in end products.

Thirdly, labels of mixed food additives are specified in detail. All of the labels shall cover the name, specification and content of the product and contact information of manufacturer, production license number, etc. Moreover, the name of each single food additive in the production of mixed food additives shall be labelled, and the mixed food additives for retail sales on the market or in catering industry shall be labelled with the content of every single food additive besides its name.

In addition, imported mixed food additives shall have labels or specifications written in Chinese with country of origin and the name, address, and contact information of domestic agencies, besides the label content mentioned above. (name, address and contact information of foreign manufacturers can be written in their local languages.) It is worth noting that the production license number can be exempted in the label of imported mixed food additives.

It's believed that the General Rules will impose much positive effects on the mixed food additive industry in the future, according to CCM’s August issue of Corn Products China News. On one hand, mixed food additive manufacturers can be qualified to apply for food additive production license, which can help improve the average quality of mixed food additives. According to an announcement issued by the State Administration for Quality Supervision and Inspection and Quarantine (AQSIQ) on 7 December 2010, all food additive processors shall apply for "Food Additive Production License" before 1 March 2011. However, mixed food additive processors can't apply for the license because there used to be no national standard for mixed food additive industry. Now, the execution of the General Rules grants them the access.

In this point, lots of small mixed food additives manufacturers will be eliminated because they probably can't get the license. According to the General Rules on Production Permission of Food Additives published on 13 Aug. 2010 and coming into force on 1 Sept. 2010, only those food additives manufacturers getting over 133 points can get the food additive production license. (The full mark is 150 points and it's judged by 75 items including production technology, production environment, production management and so on.) That means the license is difficult to obtain, especially for small processors, but without which they are forbidden to produce mixed food additives. Obviously, large and powerful manufacturers can get benefits and increase market share.

On the other hand, the price of mixed food additives may be pushed up in the future, as the production cost will increase because the production environment and equipment shall be upgraded to meet the requirements of the food additive production license. The cost of raw material—single food additive—will particularly rise. Corn starch, for example, is a common raw material. It can be generally divided into industrial grade and food grade; the former has lower price but pathogenic micro organisms beyond limits usually. Some manufacturers still use industrial grade corn starch for low price, and what's more important, there's no standard to regulate it before. But now, based on the General Rules, industrial grade corn starch can not be used for mixed food additives' production any more, which will increase the production cost.

Some experts consider that the General Rules may reduce the supply of mixed food additives and thereby the demand for single food additive may also decline. However, in CCM's opinion, the demand for single food additive won't be reduced but will increase in the long term. Because the General Rules makes mixed food additives industry more standardized and the public will have more confidence in it, which can increase its demand.

However, the General Rules' content is too general and hard to execute to some extent, and it needs more detailed rules and regulations. It's reported that Chinese government may issue related detailed rules and regulations in the near future.

Source: Corn Products China News 1108

http://www.cnchemicals.com/Newsletter/NewsletterDetail_6.html

Content of Corn Products China News 1108:

Zhengda Linghua suspends lysine production for relocation and capacity expansion

376,053 tonnes of citric acid exported in H1 2011

Chinese corn products Imp. & Exp. analysis in June 2011

VC price keeps stable and VB2's rises slightly in Aug. 2011

Glucose monohydrate price drops in recent two months

Standard for mixed food additives to be implemented in Sept. 2011

Corn oil industry may welcome potential adjustment to VAT system

High-value added amino acids: profit contributor of Meihua Group

100,000t/a HFCS production lines launched by Huakang Pharmaceutical

Baolingbao performs well in H1 2011 thanks to HFCS

Potato starch import volume declines in H1 2011

Corn price may maintain an uptrend till this October

Corn Products China News, a monthly publication issued by CCM International on 20^th of every month, presents the latest news of China’s corn deep processing products to reveal the driving force of the event and deeply analyzes the influence of the event on domestic and international corn deep processing industry.

Please visit http://www.cnchemicals.com for more information or contact econtact@cnchemicals.com