Malaysia benefits from low corn prices

Introduction: Chinese corn export spring campaign, Malaysian importers are happy Singapore, April 16 (Reuters) - Malaysia, as the largest corn importer in Southeast Asia, is quietly entering the market With the global corn price reduction and the abundant domestic corn inventory in China, the main supplier, China's corn price is very attractive at present Grain traders in Asia said that China recently killed a horse back gun and launched an aggressive spring corn export campaign in the international market months after its low-key exit from the corn export market, which is a great opportunity for Malaysia to sign more forward contracts instead of purchasing corn needed within three months under normal circumstances Even those small-scale Malaysian corn traders have begun to actively enter the market to inquire about Chinese corn, taking the current low-cost Chinese corn as a good opportunity to purchase demand after more than a month, and usually, these small businesses in order to avoid the impact of price fluctuations, usually just buy it Malaysia has been actively purchasing corn recently because of such a low price, especially the low price of corn in China, and no buyer will wait for such a good purchase opportunity to be lost, a leading grain trader in Singapore said Tuesday In 2001, Malaysia imported 2.4 million tons of corn, and traders expect that this year's corn import will increase to 2.6 million tons Malaysia is also the second largest buyer of corn in China, after South Korea Before 2000, 90% of Malaysia's imported corn came from China But in 2001, high corn prices in China prompted Malaysian buyers to switch to Argentine corn Argentina exported 700000 tons of corn to Malaysia in 2001, far higher than 50000 tons in 2000 A trader in Kuala Lumpur said the current situation is not as bad as it was in the first two months of this year, at least to a certain extent, with a good grasp of the supply of corn At the beginning of the year, due to the uncertainty of China's corn export supply and Argentina's domestic economic crisis, it was difficult for Malaysian buyers to determine their purchasing strategies Food traders in Asia say Malaysia has recently decided to buy Chinese corn at a price between $101 and $102 per ton, which is the cost and freight price, and there will be more deals Considering the current trend, Malaysian grain importers are confident that corn prices will fall There will be more deals to buy Chinese corn in the next two weeks On Monday, CBOT corn futures closed down about 1 cent, mainly dragged down by the decline in soybeans In addition, weak exports also put pressure on the market and trading was quiet On Friday, there was talk that the U.S government would raise the corn loan rate, which would lead to an increase in corn planting area, thus putting pressure on the market Asian traders say Argentina is currently offering corn on May and June shipments, but Malaysia's interest in purchasing is weak because of the relatively high prices offered by Argentina The price of Argentine corn for May June shipment is US $106-107 per ton Singapore traders say Argentine corn is now almost catching up with us corn prices So for Malaysian buyers, Argentine corn is definitely the second choice Traders in Asia say China's return to the corn export market has made it more difficult for Brazil to import corn into the Malaysian market Some traders have tried to promote Brazilian corn, but they haven't succeeded Traders said that at the beginning of the year, due to the small number of Chinese corn offers, importers were paying attention to Brazilian corn, but now there is little hope that a large number of Brazilian corn will be exported to Malaysia Malaysia's pig industry shows signs of recovery, while the demand for poultry remains stagnant Malaysia's per capita poultry consumption is one of the highest in the world, reaching an annual per capita of 30 kg A Malaysian feed processing plant said that due to the current low corn price, the outlook for the feed industry, if not too good, will not be too bad at least (author:) share to feed Weibo share to: