China Eyes More Corn Imports
Country is set to become top buyer as shipments surge
China’s government is discussing permits for millions of tonnes of additional corn imports over the next year, three industry sources told Reuters, amid a surge in animal feed demand and after storms and drought damage tightened domestic supplies.
A round of new import orders from China would make it the world’s top importer of corn for the first time and likely drive up global prices of corn and other grains.
That would amplify food inflation caused by disruptions to global supply chains due to the coronavirus pandemic.
China's emergence as the top importer as it moves away from a long-standing policy to encourage domestic self-sufficiency in corn will change global grain trade and encourage corn growers worldwide to plant more to meet Chinese demand.