Porto Alegre, September 21, 2020 – Prices in\nChina keep rising this year. The Chinese domestic market seems to have suffered\na disruption in its distribution structure and forced the government to make almost\n20 interventions with its buffer stocks to meet domestic demand. However, due\nto logistics, domestic consumers have opted for imports as an alternative to\nreduce delays in withdrawing corn from the government and obtaining supplies in\nthe medium term. Even with the Chinese crop reaching the market, there are\nissues of internal logistics and a very strong appeal for new and better\nquality corn.<\/p>\n\n\n\n
Prices in China jumped to\n2.45 Yuan per kilogram, approximately USD 340\/ton, that is, an extremely\nexpensive commodity in the local market. However, it is a protected and\ngovernment-controlled market, not only in the purchase of corn directly from growers\nbut also in the sale to consumers and import decisions. For this reason, there\nare import quotas, most of which headed for state-owned companies. Last week,\nthe Chinese government decided to leave the 2021 import quota for corn and\nwheat unchanged from previous years.<\/p>\n\n\n\n
– The quota for wheat imports in 2021 was set at 9.636 million tons, 90%\nof which will go to state-owned companies, according to China\u2019s National\nDevelopment and Reform Commission (NDRC).<\/p>\n\n\n\n
– The import quota for corn in 2021 was set at 7.2 million tons, of\nwhich 60% will go to state-owned companies.<\/p>\n\n\n\n
– China has a 95% self-sufficiency target for its consumption of rice,\ncorn, and wheat, but allows a certain volume of imports through the TRQ system,\nunder which importers can buy specified volumes at rates as low as 1%, compared\nto 65% without the quotas.<\/p>\n\n\n\n
Ag\u00eancia SAFRAS Latam<\/p>\n\n\n\n
Copyright\n2020 – Grupo CMA<\/p>\n","protected":false},"excerpt":{"rendered":"
Porto Alegre, September 21, 2020 – Prices in China keep rising this year. The Chinese domestic market seems to have suffered a disruption in its distribution structure and forced the government to make almost 20 interventions with its buffer stocks to meet domestic demand. However, due to logistics, domestic consumers have opted for imports […]<\/p>\n","protected":false},"author":5,"featured_media":9096,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[102],"tags":[],"commodity":[],"class_list":["post-19386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agribusiness-en"],"acf":[],"yoast_head":"\n