02.
09.20
13:20

State corn stocks are almost exhausted

Up until four years ago, China was still struggling with government corn stocks that were too high. At that time, the government wanted to get a grip on the rural exodus with high corn prices. The farmers were paid more for the maize than was customary in the market. After this subsidy ended, less corn was produced than was consumed domestically.
The state corn stocks in China are now almost exhausted.
Prices are now at a 5-year high and 27% higher than they were at the beginning of this year.
Food prices in China have increased significantly in general. This is also due to the flooding in the south of the country and a drought in the grain belt in the north. Pork prices remain very high.
Xi Jinping recently expressed concern about this development several times, saying that food waste in China is a shame. As a result, the authorities in the provinces became restless and are trying to remedy the situation.

Source
Hansa Terminhandel GmbH
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