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10/6/2010
Rail News: Rail Industry Trends
China to import corn in 2011, grain council says
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The U.S. Grains Council (USGC) recently concluded its annual corn tour in China, where crops are projected to increase production vs. 2009. The council estimates the total production for China’s 2010 corn crop at 158 million metric tons, or 6.2 billion bushels.
“While the council is projecting higher production numbers than last year, this does not indicate a bumper crop. Conservative estimates of demand growth suggest China will likely need to import,” said USGC President and Chief Executive Officer Thomas Dorr in a prepared statement.
Next year, the council expects China to import 2 million tons of U.S. corn and 2.5 million to 3 million tons of U.S. distiller’s dried grains, a co-product of U.S. ethanol production.
“While the council is projecting higher production numbers than last year, this does not indicate a bumper crop. Conservative estimates of demand growth suggest China will likely need to import,” said USGC President and Chief Executive Officer Thomas Dorr in a prepared statement.
Next year, the council expects China to import 2 million tons of U.S. corn and 2.5 million to 3 million tons of U.S. distiller’s dried grains, a co-product of U.S. ethanol production.