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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (21180)1/12/2005 6:33:48 PM
From: RealMuLan  Read Replies (1) of 116555
 
China's Corn Exports May More Than Double in Year to Sept. 2005

Jan. 11 (Bloomberg) -- China, the world's second-biggest corn producer after the U.S., may export 5 millions tons of corn in the marketing year ending September 2005 after a bigger harvest last year, according to a State Grain Administration affiliate.

Corn exports may rise 150 percent this year from 2 million tons in 2004, said Li Ke, director of the China National Grain and Oils Information Center, at a conference in Shanghai.

The center on Nov. 4 predicted China's corn harvest to rise 14 percent to 131.7 million tons in 2004 from 2003, after the area sown with the crop expanded 6 percent to 25.6 million hectares. China's demand for corn is projected at 126 million tons for the crop year through Sept. 31, 2005.

``Based on last year's harvest, this marketing year will be the first time in 5 years where production will exceed demand,'' said Li.
bloomberg.com
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