China continues to dominate the Indonesian corn market
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Last Update: 2002-06-29
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Source: Internet
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Author: User
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Lead: Jakarta, June 27 (Reuters) - China dominates the Indonesian corn market this year, with about 100000 tons of Chinese corn arriving at Indonesian ports every month since March, according to Jakarta corn traders Another Jakarta trader said a large feed processing plant bought corn from two ships of Handymax class cargo ships from China this month Some traders want to buy from South America, but they are cautious because of foot-and-mouth disease The CNF price of Chinese corn shipped in July has been hovering around us $103-104 per ton According to the Ministry of agriculture of Indonesia, the total corn consumption in Indonesia is expected to be 10.8 million tons in 2002 and 11.9 million tons in 2002 Most of the island's corn is imported from China and the United States In early 2001, Indonesia stopped importing corn from Argentina and Brazil after the outbreak of foot-and-mouth disease in the two South American countries Although the ban was lifted last year, traders said that imported food from South America still needs to go through the tedious inspection of Indonesian ports, and because the market is still worried about the outbreak of foot-and-mouth disease in South America, the vast majority of buyers are deterred by South American corn.
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