Business / Industries

Corn imports may decline

(China Daily) Updated: 2012-10-18 11:25

China, the world's second-largest corn producer, may import less corn after the domestic crop increased this year, the State Administration of Grain said on Tuesday.

Imports for the year started Oct 1 may be "a little less, though there will still be some", said Zhang Guifeng, deputy director of the agency in charge of managing the grain market.

China may cut purchases to less than half of last year's level because of higher global prices and slowing demand, the State-owned China National Grain & Oils Information Center said on Tuesday.

Imports surged more than fivefold last year after the government bought supplies to boost stockpiles. "Our grain production will increase for a ninth year," Zhang said. Corn output may jump 4.3 percent from a year ago to 201 million metric tons, after the planted area gained 3.2 percent, the center said on Tuesday.

China Daily - Agencies

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