 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Beijing, China (SPX) Jun 30, 2010 Himfr reports that in 2009, maize transaction prices dropped to their lowest in two years, at 1,330 RMB per ton. While from March of this year, maize prices began sharply rising, with a rise from 1,762 RMB to 2,000 RMB per ton. In the non-producing areas of Jiangsu and Sichuan, corn prices have already reached 2,010 RMB / ton. China is not experiencing a shortage of maize. The rise in price is mainly due to last year's drought. Among agricultural products, the rise in wheat and corn prices has been relatively low. Wheat rose 8% last year, rice rose 14%, and corn 20%, while cereals rose 50%-60%, and some grains and field crops doubled in price. The key issue is the market's inflation expectations. People believe prices will continue to go up. " The current supply stock is about 120 million tons. Major demand comes from the use of maize in animal feed, with feed utilizing about 90 million tons of corn. Alcohol manufacturers require 30 million tons, while human consumption accounts for about 14 million tons. In the past, Chinese corn exports amounted to about 300-400 million tons each year. These past two years have seen decreased export numbers as the state has apportioned more corn reserves for the development of ethanol. 2009 saw corn production reduced by about 10 million tons. Feed demand decreased, export stagnated, and alcohol usage also reduced, basically offsetting the reduction in production. The rise in corn prices is not the biggest in all agricultural products, but the impact may be greatest, because it will affect the cost of feed and food processing. Feed is becoming more expensive, and this is mainly because of corn prices. Corn accounts for 60-70% of feed, while the cost per ton has increased several hundred RMB compared with last year, and is expected to increase by at least another 20%.
Share This Article With Planet Earth
Related Links Himfr.com Farming Today - Suppliers and Technology
Paraguay dispels gloom with soya bonanzaAsuncion, Paraguay (UPI) Jun 29, 2010 Paraguay expects to reverse last year's economic contraction with a growth in excess of 4 percent in 2010, the government said Tuesday amid public celebration of an end of drought and a record harvest of soy. The announcement by Economy Minister Dionisio Borda revised economists' predictions the landlocked country of 6.3 million was headed for a deep recession after an economic downturn ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook
