China's corn output reaches an all-time high
At a time when all eyes around the world are focused on bad weather damaging corn yield potential in the US and Europe, Chinese farmers are expected to harvest record corn this year.
In its latest monthly report released last week, the International Grain Council (IGC) raised its forecast for China's corn production to 225 million tonnes, 5 million tonnes higher than its June forecast. IGC also revised up its global corn production data.
Although global corn production will still be below last year's record levels, the increase in Chinese corn production data will partly offset the decline in production in the US and EU.
CBOT corn futures fell 9.7 per cent in July, the biggest monthly drop in nearly a year, on speculation that global corn supplies would be plentiful.
IGC expects global corn production to reach 966 million tonnes in 2015, 0.3 per cent higher than its June forecast. IGC expects China's corn production to grow by 4.3 per cent this year.
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Can farmers benefit if the supply and demand of agricultural products are moderately tight?
According to some media reports, at the China Rural Development High-level Forum, which ended on July 31, Zhang Tianzuo, Department of Industrial policies and regulations of the Ministry of Agriculture, said that at present, the prices of many agricultural products in China do not fully reflect the value, and agricultural costs have risen substantially. And farming benefits
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Four kinds of cooperatives that have "deteriorated"
In recent years, farmers' cooperatives have developed rapidly. by the end of February this year, the number of farmers' specialized cooperatives registered with the industry and commerce sector had reached 1.3374 million, an increase of 28.74 percent over the same period last year. In the past five years, there has been an average increase of 300000 per year, but there are many fake cooperatives and reshuffle cooperatives.
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