China’s Corn Imports Seen Doubling on Lower Crop and Price Rally
- Shipments from overseas may rise to 17 million tons in 2020-21
- Poor weather means the harvest will be smaller than last year
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China’s corn imports could more than double to 17 million tons in 2020-2021 from a year earlier on prospects for a smaller domestic harvest and a recovery in demand for hog feed, according to the head of the logistics information department at COFCO Trading Co.
The increase in imports would also be to meet commitments under the U.S. trade deal, Wang Baichao said during an online seminar on Tuesday. Imports were 7.6 million tons in 2019-2020, he said. China has already booked more than 10 million tons of U.S. corn for 2020-2021, including 8.8 million tons which have not been shipped, according to the U.S. Department of Agriculture.