Agriculture minister says corn exports will not stop next year

Introduction: short comment: there is a lot of talk about China stopping corn export in the market recently, but the statement of China's agriculture minister and COFCO officials completely smashed the rumor There is no doubt that China will continue to export corn in 2004 But industry insiders generally believe that China will reduce its financial support for exports, which will face greater challenges next year LDL Zhuhai, Nov 7: China's agriculture minister Du Qinglin said Friday that China has no plan to stop exporting corn next year Mr Du's speech dispelled concerns that China might stop exporting corn because of rising domestic food prices LDL was asked if China would stop exporting because of the lack of corn production Du told reporters, "there is no such plan." He did so during the recess of an international conference LDL Du's statement is consistent with that of Zhou Mingchen, chairman of COFCO on Thursday Zhou Mingchen, chairman of LDL, said Thursday that China will export corn next year, but the export volume next year may be lower than this year's level In 2003, China's corn export is expected to reach a record level of over 13 million tons LDL Du did not elaborate on its export plan for 2004 or whether China would provide financial support for corn exports LDL said that since the beginning of October, China's domestic grain prices have risen for the first time in several years, but it is a normal price adjustment because prices in overseas markets have also risen LDL's unexpectedly sharp rise in China's grain prices has raised concerns that China's grain stockpiles may soon run out and that exports may stop next year LDL but Du denied that food stocks were falling He said that the level of grain inventory is still normal and maintained at the international standard of 18% of annual consumption LDL Du did not provide data on this year's grain production, saying the government had not completed its grain purchase plan LDL