Agricultural News
China Prospects Reportedly Strong
Fri, 04 Feb 2011 17:17:31 CST
While in China last week, U.S. Grains Council's Officers Mission participants learned that many in China expect imports of U.S. corn to continue. Estimates indicate that China is short 10-15 million metric tons, or nearly 600 million bushels in stocks. USGC Chairman Terry Vinduska says China, "Normally keeps stocks at 30 percent but they are currently a little over 5 percent, which may lead to imports of 3 to 9 million tons of corn."
Vinduska says, "Now is the time to stay focused on the long-term market development objectives of being a reliable supplier for China. We need to build a trusted trade relationship. USGC officers were accompanied by leaders from the National Corn Growers Association. They met with analysts and industry experts who reported corn demand in China continues to be strong because of an economy growing at 8-10 percent annually."
As for China's anti-dumping investigation against imports of U.S. distiller's dried grains with or without soluble, Vinduska says, "Everywhere we went, we were encouraged that the case will be handled well." USGC president and CEO Thomas Dorr says he believes there will be a positive outcome from the anti-dumping case. Importers would like to see imports grow, eventually reaching 10-million tons in annual imports.
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