China May Boost Corn Imports More Than Three-Fold
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China, the second-biggest user of corn, may increase imports more than three-fold in 2010-2011 to meet demand and help cool prices, according to estimates from Li Qiang, managing director at Shanghai JC Intelligence Co.
The country may buy 4 million to 5 million metric tons, Li said in an interview at a conference in Tianjin today. Accumulated U.S. exports to China were 1.16 million tons and outstanding sales 174,000 tons as of Aug. 26 for the year ending Aug. 31, according to U.S. Department of Agriculture data.