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China has already purchased more than a third of its total projected corn imports for the 2021-22 US marketing year from the United States, according to data from the United States Department of Agriculture (USDA). USDA figures show that China purchased 9.5 million tonnes of corn from the United States and is expected to import around 26 million tonnes from all international suppliers for the 2021-22 season, which begins in September.
The Asian country's demand for corn has increased dramatically in recent months as its pig herd continues to expand after a period in which it shrank significantly due to the African swine fever outbreak. Purchases of North American corn come at a time when there are many uncertainties about the corn harvest in Brazil, which is facing droughts in some of its main production areas.
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Arlan Suderman, chief commodities economist at Stone In addition to the forecast 26 million tonnes of corn imports, China will reportedly increase its production for the 2021-22 marketing year by 4.3% due to increased planted area and yield.
The country's agriculture ministry said earlier this month that it expected corn production to reach 271.81 million tonnes, up from 260.67 million a year ago. The USDA in its most recent export sales report said U.S. corn exports and undelivered sales to China in 2020-21 totaled 23,244,300 tons. Of the total, 11,380.3 thousand tons have already been shipped to China and 11.864 million tons have not yet been delivered.
By: Leonardo Gottems | agrolink
