The sown area of corn may reach a new high and the seed industry has entered a new round of prosperity week.

Recently, Oil World, an industry publication in Hamburg, Germany, said that as farmers replant corn, the sown area of soybeans in China will fall by 7% this year, to the lowest level in 22 years, while the sown area of corn may increase to a record level.

Both corn production and imports will decline this year. From July to August this year, China's Liaoning, Jilin, Henan and other areas suffered a serious drought. China's corn production is likely to fall 2.2 percent in 2014 from the previous year, the first decline since 2010, according to a report by the National Grain and Oil Information Center. From January to July this year, China imported 1.465 million tons of corn, only 45 per cent of the amount imported in 2013. The decrease is mainly due to the return of 1.25 million tons of MIR162 genetically modified corn from the United States in less than a year.

The national hybrid maize seed production has dropped sharply, which has brought the inventory back from the high level, and the seed price is expected to enter a new round of rising cycle. Data show that this year, the area of hybrid maize seed production in China is 2.95 million mu, a decrease of 23%. Except for a few characteristic varieties, the seed production area of hybrid maize seed enterprises across the country has been greatly reduced.

At the 12th National seed Information Exchange and Product Fair Summit Forum on September 15, Zhang Fugui, deputy director of the Law Office of the National people's Congress, said: "the revised draft of the seed Law has completed the work of soliciting opinions ahead of schedule. It will be submitted to the standing Committee of the National people's Congress for deliberation as early as April next year." The four-year revision of the law is coming to an end, and the introduction of a new seed law is in sight. It is reported that the revised draft of the seed Law will add two chapters: protection of new varieties and support measures for the development of seed enterprises.

Driven by the high decline in inventory caused by the decline in seed production, the new seed law and the green channel for variety approval, the seed industry is expected to enter a new round of business cycle. for the sea seed industry, Wanxiang Denong, Longping Hi-Tech and other leading enterprises to bring the volume and price rise of dominant varieties.