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Imports of corn by China will surge as much as 85 per cent in 2014, fuelled by a delay in planting and increase in domestic consumption
The China National Grain and Oils Information Center (CNGOIC) has said that China, currently the world’s second largest corn consumer, will be expected to import five million tonnes in the year starting October, nearly double a forecast of 2.7mn for the current year.
CNGOIC’s 2013/14 estimate was, however, lower than a record seven million tonnes predicted by the US Department of Agriculture (USDA).
The USDA figure was in line with estimates by analysts after the domestic crop was damaged by mould and wet weather delayed planting.
Although planting has been delayed by about two weeks,
The country’s rice output is expected to rise 1.2 per cent on the year, to 206.7mn tonnes.