Corn imports by China seen doubling to cool fastest inflation since 2008

Its is estimated that China will buy five million metric tons of corn this year in an attempt to slow down the fastest inflation in three years. China is the worlds second largest corn user and increasing demand for the feed ingredient consumed by hogs and chickens may support Chicago prices that fell 17 percent from a three-year high in June.

Shrinking farmland and water shortages in China have combined with rising incomes and a doubling in pork consumption to drain supply and drive up costs, pushing inflation to 6.4 percent in June, the most since 2008. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers