Beijing frets as China farmers look away from corn | Special Coverage | Reuters
CNGOIC sees China’s corn consumption rising 2.2 percent to 148.7 million tonnes in the year starting in October — dangerously close to an expected output of 149 million tonnes — with feed demand up by 1.4 million tonnes at 96.9 million tonnes.
Some analysts predict China will emerge a net importer of corn in the next few years, especially if weather wrecks the 2008 crop, though current domestic prices are about a quarter below the costs of imports from the United States.
Beijing frets as China farmers look away from corn | Special Coverage | Reuters