6th Starch World Asia,

16-18 Jan, 2017 - Ho Chi Minh, VIETNAM

Eastin Grand Hotel Saigon

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News Feed

Chinese Corn Processors may get Subsidies from government

Posted on : 04 Nov, 2016

 

China – the world’s second-biggest corn producer and consumer – has been facing a domestic glut for some time now. The country started to ease the glut with state stockpiling program. With domestic oversupply, the corn futures in China are at a decade low now and it has also brought down the starch prices. After ending its stockpiling program, China is selling the grain from reserves and reducing planting to curb the glut.

 

China’s corn processing industry is also in losses owing to a low demand from end users in the textile and paper industry. Analysts say the government is considering extending subsidies to the corn processing industry to boost demand before the harvesting season. The move is likely to help raise production capacity and enable farmers to sell grains. Market analysts say that subsidies of about 300 yuan ($45) to 400 yuan a ton may be offered to corn processors in Heilongjiang and Jilin provinces.

 

Jilin’s local government already offered a subsidy of 150 yuan a ton in the first half this year. Meanwhile in July, the finance ministry offered to allocate 30 billion yuan in subsidies to corn growers in four provinces.

 

According to the China National Grain and Oils Information Center, China’s corn production may total 219.5 million tons that will add to stockpiles that Shanghai JC Intelligence Co. estimates to exceed 250 million tons. The corn processing industry is expected to consume only about 60.7 million tons of corn in 2016-17, up from 56.4 million tons a year earlier.

 

What does the demand glut in China mean for producers in Vietnam, Thailand? Will China’s Starch industry revive?

 

More about China’s corn production and demand supply will be discussed at 6th Starch World Asia on 16-17 January, 2017 in Ho Chi Minh.

 

Find out more from Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113.

 

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