Overseas media comment on China's corn import and export

Introduction: on Wednesday, traders in Beijing revealed to osterdowjones that the price gap between Chinese corn and American corn in 2002 was not large, and it is expected that the price of Chinese corn and American corn will be basically the same in 2002-03 Therefore, although the tax rate of China's quota corn is very low, the price factor will still restrict the import of China's corn On February 8, the National Development Planning Commission announced a tariff quota of 5.85 million tons of corn, of which 1.872 million tons were distributed to private trading companies, accounting for 32% of the total At the end of March, the Chinese government issued an import quota of 1.672 million tons of corn to 225 private companies However, it is unlikely that China will import more than 1 million tons of corn in 2002 Since most companies receive import quotas of less than 50000 tons, it is unlikely that all imports will add up to one million tons Secondly, the gap between the price of domestic corn and that of imported corn will still be the main reason that hinders a large number of imported corn At the beginning of May, the price of yellow corn in the United States was $107 per ton If imported to China, plus tariffs and various fees, the price of corn in the United States would be 1100 yuan per ton In contrast, in the two key corn producing regions in Northeast and North China, the price of medium-sized corn in the real estate is 960-1090 yuan per ton, while in the southern provinces of China, the price is 1110-1150 yuan per ton Traders and futures analysts in Beijing point out that China's corn price will never rebound in the near future due to the continuous grain auctions This year, the Chinese government reduced its support for corn prices, and the auction capped the price of corn, which continues to strengthen in China, limiting the import of corn Traders believe the latest auction in Jilin Province may be a concrete response to the Chinese government's new policy However, the main factor that really restricts the import of corn is that China will have a good harvest this year The recent timely rain has accelerated corn planting and raised expectations for corn production this year The U.S Department of agriculture forecasts that China's corn production will increase by 10 million tons this year compared with the forecast in the 2002-03 supply and demand report, and the output will reach 120 million tons However, American traders believe that China's corn export volume is the most important for the international market Some futures analysts believe that if China's corn production can reach 125-128 million tons this year, China's corn export volume will soon increase to 10 million tons AJr