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China's grain policy will have a lasting impact on imports

Published: 2024-11-21 Author: mysheen
Last Updated: 2024/11/21, According to BMI research, a research institute, the reform of China's grain policy will have a lasting impact on grain imports in the next few years. BMI research said that in September this year, the Chinese government decided to lower the purchase price of corn, which caused domestic corn prices to fall, making import prices

According to BMI research, a research institute, the reform of China's grain policy will have a lasting impact on grain imports in the next few years.

The Chinese government's decision to lower corn purchase prices in September caused domestic corn prices to fall, making import prices less attractive, and the government plans to sell large corn reserves to the domestic market, which will lead to a reduction in China's imports in 2016 and 17, BMI research said.

The agency added that BMI expects growth in corn production in China to be constrained by lower support prices and will slow significantly from 2016 to 17. The shortage of corn supply will cause corn imports to accelerate again two or three years later.

 
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