China may soon begin to provide corn for export in the second half of the year

Introduction: Singapore, March 15 news: China is expected to start to provide corn for export in the second half of the year soon, according to Asian grain trader disclosed to Dow Jones on Friday, in order to reduce the huge domestic corn inventory Traders in Hong Kong and South Korea say China's corn stockpile is estimated to be 50 million tons, with another 110 million tons in 2001 / 02, so China will be keen to sell corn Traders at an international trading company in Hong Kong say China has plenty of corn in stock and needs to sell it China's grain stockpile reached 250 million tons, Premier Zhu Zhenji said Friday Traders say China will soon resume exporting corn because export subsidies will only be phased out A trader in Seoul also said China was still offering export subsidies, rather than abolishing them all at once China joined the World Trade Organization in December last year According to the WTO agreement, China agreed to cancel the export subsidy system In addition, according to the WTO agreement, China set a tariff rate quota for corn in 2002, reaching 5.85 million tons TWF officials told Dow Jones that they have not yet started to provide corn for delivery in the second half of the year Officials from COFCO and COFCO, two government authorized exporters in China, were asked about rumors in the U.S market that China began to provide corn for July and August shipments, suggesting that China would continue to export corn In response, the officials of Kyrgyzstan grain did not provide the bidding for the second half of the year, which should wait until the end of May COFCO officials in Beijing reacted similarly, saying they had not yet provided corn exports for the second half of the year COFCO officials say the main buyers of Chinese corn are South Korea and Southeast Asian countries At the end of February, Busan branch of Korea feed Association purchased 55000 tons of feed corn from Cargill company, and the shipment time from Chinese port is from June 21 to July 10 CNF price is US $101.25 per ton TWf