Argentine corn prices soar Asian traders turn to China
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Last Update: 2002-03-20
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Source: Internet
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Author: User
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Introduction: overseas media news: after the crisis in Argentina, Asian traders gradually reduced the import of Argentine corn and purchased Chinese corn Last year, Asian countries' demand for Argentine corn expanded rapidly due to the decrease of China's corn export supply According to the Ministry of agriculture of Argentina, in 2000 / 01, South Korea's corn imports from Argentina increased from 60000 tons in the previous year to 1.23 million tons; Malaysia's corn imports increased from 50000 tons to 700000 tons; Indonesia did not import corn from Argentina in 1999 / 00, and imported 250000 tons in 2000 / 01 However, since the crisis broke out in Argentina, the domestic grain trade in Argentina has been basically paralyzed, the price of corn has skyrocketed, and the supply has problems Traders do not want to take risks in the purchase of Argentine corn, so that China has the opportunity to re-enter the international corn market South Korean traders have expressed their willingness to sign corn import contracts with China that will arrive before May and June Traders say Malaysia has also cut corn imports from Argentina, seeking to import Chinese corn Although American corn is also an option, the price of American corn is too high The current price of corn in China is US $98-99 per ton, FOB In the Southeast Asian market, the price of corn in China is 105-106 US dollars per ton after freight US corn is quoted at US $110-111 per ton, CNF price.
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