China is unlikely to become a major corn importer

Introduction: according to new page 1 traders, although China has tried to buy a small amount of corn from Thailand and cancelled two ships of Panamanian class cargo ship corn sold to Malaysia, it is unlikely to become a major corn importer Q9U traders believe that there is nothing special about China's possible purchase of 10000 tons of corn from Thailand, because the quantity is very small compared with 13 million tons of corn exported by China If China intends to import (US corn), we hope to help, said senior trader of Q9U, who works for an international commodity company There have been several enquiries in the past two weeks, but we can hardly see them today According to Q9U traders, prices in the main corn consumption areas in the South have fallen from a peak of 1500 yuan ($181) at the end of October to about 1350 yuan ($163) per ton The seller's FOB price of Q9U Thai corn is about 140 US dollars per ton, and the CNF price for transportation to China is about 160 US dollars Unless Chinese buyers import corn to produce meat for export, they have to pay 13% VAT and 1% import tariff The CNF price of Q9U US corn in China is $155 to $165 per ton, which is also much higher than the domestic corn price in China Traders in Q9U Shanghai said that if domestic corn prices rise from now on, the government may take measures to intervene and allow some corn to be imported Some corn imports may also be arranged in accordance with the lower value-added tax Q9U traders believe that due to the bottleneck of domestic transportation, the shortage of corn supply in the South has been aggravated In October, the price of corn rose by 100 to 200 yuan (12 to 24 US dollars) per ton in just a few days, while the price of corn has remained low for six consecutive years According to Q9U traders, the output is OK The problem is transportation When asked about the decrease in inventory, the trader said it was not as serious as he had said But China is having trouble fulfilling its export contracts, and traders are worried that more contracts will be cancelled Q9U in addition, whether China will continue to export next year is also uncertain, traders said the government has not yet finalized One trader said it was not clear whether the suppliers were ready to perform the contracts they had signed I hope to fulfill the contract, but China's corn supply is very tight The third trader in Beijing, Q9U, said that the price of Jilin, the No.1 corn producing area, has not yet shown signs of weakening At present, farmers and grain depots are reluctant to sell, expecting the price to go higher, so Jilin corn is still around the high point of 1100 yuan Q9U