China Enters ‘New Era’ of Corn Buying, Council Says
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China may import as much as 15 million tons of corn in 2015 as demand outstrips local supply and the country enters a “new era” of buying from overseas, the U.S. Grains Council said, citing Shanghai JC Intelligence Co.
Imports may total 1.7 million tons this year and 5.8 million tons next year, the council said, citing Shanghai JC Chairman Hanver Li. Even with normal weather, the second-largest corn consumer won’t be able produce enough to meet demand as incomes rise, the council said on its website, citing Li.