Taiwan authorities decided to temporarily lift the ban on Chinese corn soybean meal

Introduction: new page 1 Singapore, November 19: according to a senior official of the board of foreign trade (BOFT), on Wednesday, Taiwan authorities have decided to temporarily cancel the decision to ban the import of Chinese corn and soybean meal Peter Ho, director of import and export management department of BOFT, said that all corn and soybean meal imported from China must arrive in Taiwan before January 31, 2004 After 31 January 2004, the ban will remain in force BOFT belongs to the Ministry of economic affairs of Taiwan Starting Tuesday, companies will be able to apply for import licenses from the BOFT, still using the current quarantine and inspection system LGV started to ask the government to cancel the 50 year ban on Chinese grain imports because of the sharp rise in Taiwan's market price last month The Taiwan government finally gave in and decided to suspend the ban LGV's feed price in Taiwan market has risen due to the strong corn import from the United States and the persistently strong freight Taiwan is the main importer of corn in the United States It needs to import 5.2 million tons of corn from the United States every year, most of which is feed demand Due to the political gap with inland areas over the years, Taiwan generally does not buy grain from the Chinese market The last time LGV Taiwan authorities lifted the import ban was in October 2002, when US corn exports were temporarily suspended due to strike time on the western coast of the United States The ban was reinstated in early 2003 Because the price of Chinese corn is lower than that of American corn, and the shipping time of LGV is shorter, Taiwan's breeders have repeatedly asked the government to lift the ban With the increase of import, Taiwan's stock breeding and feed processing industries feel more and more pressure, so the voice of reducing costs is also growing However, due to the recent tight grain inventory in China's inland areas, there has been a trend to reduce exports, so the time for Taiwan to announce the temporary lifting of the ban is not appropriate The price rise of Chinese corn market has almost reached the level that can offset the price difference with American corn A head of a feed company in LGV Taiwan said that the market price of corn in China was basically the same as that in the U.S market, with CFR Taiwan's quotation of about $160 / ton He believes that at this price level, people will not choose to buy Chinese corn Two months ago, the CFR price of feed corn sold to South Korea in China was $120 / ton, while the CFR price of feed corn in the United States was $140 LGV China has stopped quoting corn for shipment in 2004, mainly because of concerns about the decline of domestic grain production and inventory In this case, South Korea, the largest buyer of corn in China, has begun to increase the purchase of corn in other countries, allowing suppliers to deliver corn to the United States or South America in case of shortage in the Chinese market According to traders, if the Chinese market is still unable to provide sufficient corn supply in the short term, they may face the risk of losing the share of the Korean corn export market LGV's Taiwan based feed processing group also said on Wednesday that it would bid Thursday to buy 40000 tons of US corn, scheduled for January and February But with the lifting of the ban, other companies are still likely to buy Chinese corn An official of LGV China grain, oil and food import and export company said that before the government decided to reduce the financial support, they could still use the current export financial support to export a certain amount of corn to Taiwan, but the amount would not be very large, which might be basically the same as the level of 2002 During the period when LGV temporarily lifted its ban in 2002, China exported 70000 tons of corn to Taiwan In 2002, China exported 11.7 million tons of corn, an increase of 95% year-on-year, of which South Korea accounted for more than half LGV